(a) In General.—
The Commandant of the Coast Guard may issue regulations to promote the safety of life on navigable waters during regattas or marine parades.
(b) Detail and Use of Vessels.—To enforce regulations issued under this section—
(c) Transfer of Authority.—
The authority of the Commandant under this section may be transferred by the President for any special occasion to the head of another Federal department or agency whenever in the President’s judgment such transfer is desirable.
(d) Penalties.—
(1) In general.—For any violation of regulations issued pursuant to this section the following penalties shall be incurred:
(A)
A licensed officer shall be liable to suspension or revocation of license in the manner prescribed by law for incompetency or misconduct.
(B)
Any person in charge of the navigation of a vessel other than a licensed officer shall be liable to a penalty of $5,000.