Section 4.40-15 - Marine casualty investigation by the Board(a) The Board may conduct an investigation under the Act of any major marine casualty or any casualty involving public and non-public vessels. Where the Board determines it will convene a hearing in connection with such an investigation, the Board's rules of practice for transportation accident hearings in 49 CFR part 845 shall apply.(b) The Board shall conduct an investigation under the Act when:(1) The casualty involves a Coast Guard and a non-public vessel and at least one fatality or $75,000 in property damage; or(2) The Commandant and the Board agree that the Board shall conduct the investigation, and the casualty involves a public and a non-public vessel and at least one fatality or $75,000 in property damage; or(3) The Commandant and the Board agree that the Board shall conduct the investigation, and the casualty is a major marine casualty which involves significant safety issues relating to Coast Guard safety functions.CGD 82-034, 47 FR 45882, Oct. 14, 1982