You are the stand-on vessel but should take precautions in case the other operator doesn't see you.
When boating at night a red and white light on a vessel tells you that you must give way to the other vessel.
When boating at night, a single white light on a vessel tells you that it is anchored.
The vessel being "overtaken" is the stand-on vessel. The vessel "overtaking" is the give-way vessel.
When a sailing vessel and a pwc are meeting head on the sailing vessel is the stand on vessel.
Powerboat
Jumping the wake of another vessel on a PWC
When a sailboat overtakes a powerboat, the powerboat is the stand-on vessel. (Ref: SB-29)
When a sailboat overtakes a powerboat, the powerboat is the stand-on vessel. (Ref: SB-29)
the vessel being overtaken
a vessel which keep its course and speed but with caution.
Rule 17Action by stand on vessel(a) (i) Where one of two vessels is to keep out of the way, the other (The stand on vessel) shall keep her course and speed.Please refer to the link provided below.