Re: circuit breaker?
From what I can see David it is definitely a circuit breaker. I can tell because of the reset button covered by the clear rubber cover over it. From the picture it is rated at 20 amps. I looks as though it was factory installed as there is a triangle w/exclamation icon located above it.
My guess is that someone has either bypassed the breaker (a BIG no-no) or eliminated the need for it. Being that it is so close to the key switch, logic would dictate that it was used in the start or run circuits, but I am not sure why.
It is also possible that a previous owner removed whatever the breaker powered, eliminating the need for it.
The danger here is the possibility that someone bypassed the breaker due to nuisance tripping. In this case some bonehead bypassed the breaker instead of fixing the problem causing the tripping. This is a dangerous practice performed by shade tree mechanics who know no better. I would check the whole system completely and look closely for new, or newer looking wire or any wire runs that are not tinned. Only tinned wire would normally be used in a boat. If you find wire that is not tinned it is most likely one that has been replaced.
A quick way to find out is to take note of any markings on the wire bundles that look factory installed. They should have similar markings showing gauge, run length or insulation rating. Some marine cables will have "Anchor" or "Marine Wire" printing on them. If you find an odd colored wire or one without marine ratings similar to the rest of the bundles, you will have your shade tree wire. Simply trace it out, check the circuit and reattach it to the breaker making the circuit safe again. (after replacing it with proper marine wire of course)
Do a good once over of the electrics and look for wires that don't belong. If you are lucky, the boneheads left the wiring alone and the breaker is simply not not needed. I pulled a wad of wire out of my project boat the size of a basket ball that had been "shade treed". Lets hope you have better luck!