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(1) Where salvage is due to any person under this Act, the receiver shall

(a) where the salvage is due in respect of services rendered in assisting any vessel or aircraft or in saving life or in saving the cargo or apparel, detain the vessel or aircraft and cargo or apparel, and

(b) where the salvage is due in respect of the saving of any wreck and the wreck is not sold as unclaimed under this Act, detain the wreck.

(2) Excepts as otherwise provided in this Act, the receiver shall detain the vessel or aircraft and the cargo or apparel or the wreck, until payment is made for salvage or process is issued for the arrest or detention of the person liable to pay for the salvage by a court.

(3) The receiver may release any vessel, aircraft, cargo, apparel or wreck detained under this section, where security is given

(a) to the satisfaction of the receiver, or

(b) to the satisfaction of a court where the claim for salvage exceeds the cedi equivalent of US $5000 and a question is raised as to the sufficiency of the security.

(4) Any security given for salvage under this section exceeding the cedi equivalent of US $5000 may be enforced by a court in the same manner as if bail had been granted by that court.