(1) The Minister may enter into an administrative arrangement with the Central Authority of a foreign State for the reciprocal share-out with that State of the whole or a part of the property that is realized in the foreign State or Ghana following the execution of a request on the direction of the Minister

(a) for the confiscation of property located in the foreign State, or

(b) for the enforcement of a foreign restraint order or foreign confiscation order.

(2) Subject to any other enactment, the share-out of confiscated property, under this Act, shall vest in the Republic free from any right, interest or encumbrance of a person, except a right, interest or encumbrance

(a) which is held by a purchaser in good faith for valuable consideration, or

(b) which is not otherwise void under a provision of this Act.

(3) Where the Republic disputes the claim of a person who holds an encumbrance to which the property is subject, the Minister shall apply to the High Court to determine the issue.

(4) The vesting of property in the Republic shall take effect with- out a transfer, conveyance, deed or other instrument and the property shall be registered by the authority empowered to do so in the prescribed manner.