ss, at the time of the commencement of the action, the ship, aircraft or other property that is the subject of the action is beneficially owned by the person who was the beneficial owner at the time when the cause of action arose.(2) Paragraph 43(4)(c) of the Act is replaced by the following:(c) the parties have agreed that the Federal Court is to have jurisdiction.(3) Subsection 43(5) of the Act