"Domestic ownership", as used in this section, means ownership vested in some one or more of the following classes of persons: ( a ) Citizens or native inhabitants of the Philippine Islands; ( b ) citizens of the United States residing in the Philippine Island s; ( c ) any corporation or company created under the laws of the United States, or of any State thereof, or of the Philippine Islands, provided some duly authorized officer thereof, or the managing agent or master of the vessel resides in the Philippine Isl ands. [355-117, etc.] SECTION  1346 . Certificate of Ownership . — Upon registration of a vessel of more than five tons gross, a certificate of ownership shall be issued for it, if the vessel does not take a certificate of Philippine register. If such vessel is of five tons gross  or less, the taking of a certificate of ownership shall be optional with the owner. SECTION  1347 . Form and Recitals of Certificate of Philippine Register . — The certificate of Philippine register shall be in such form as shall be prescribed by the Insular Collector, and it shall show that the vessel is engaged in legitimate trade and is e ntitled to the protection and flag of the United States. [355-117, 119, 120.] SECTION  1348 . Privileges Conferred by Certificate of Philippine Register . — A certificate of Philippine register confers upon the vessel the right to engage, consistently with law, in the Philippine coastwise trade and entitles it to the protection of the  authorities and flag of the United States in all ports and on the high seas, and at the same time secures to it the same privileges and subjects it to the same disabilities as under the laws of the United States pertain to foreign-built vessels transferred  abroad to citizens of the United States. [355-117, 119, 120.] SECTION  1349 . Investigation into Character of Vessel.  — No application for a certificate of Philippine register shall be approved until the collector is satisfied from an inspection of the vessel that it is engaged or destined to be engaged in legitimate t rade. A collector may at any time inspect a vessel or examine its owner, master, crew, or passengers in order to ascertain whether the vessel is engaged in legitimate trade and is entitled to have or retain the certificate of Philippine register. Copyright 2012 CD Technologies Asia, Inc. and Accesslaw, Inc. Philippine Law Encyclopedia 2011 397