Strange. Only thing I can think of is the PO installed it to bleed coolant water for winter layup.
Thinking more about it I don't like it. Seems like a potential open to sea path. Were me, I would remove the stopcock and replace with a seal.
Thinking more about it, aren't there two A/C systems? I have a T on my pump and it feeds each A/C system from the same raw water pump. Perhaps they added a second pump and left the T and the ball valve in case they needed to put the second A/C back on the original pump.
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