(1) No ship shall trade in or from Ghanaian waters unless the ship

(a) is a Ghanaian ship; or

(b) possesses a certificate of foreign registry or similar document.

(2) Subject to any treaty or agreement with any foreign Government, only Ghanaian ships may engage in local trade in Ghanaian waters.

(3) A person not qualified to own a Ghanaian ship as specified in section 2 shall not engage in any charter or otherwise engage any Ghanaian ship for local trade in Ghanaian waters except in accordance with such conditions as the Board of the Ghana Maritime Authority may in writing direct.

(4) A Ghanaian ship trading in any waters in Ghana and a ship trading in or from Ghanaian waters shall provide evidence of financial responsibility against risks of damage to third parties in such form as the Board of the Ghana Maritime Authority may in writing direct.

(5) Where the master, owner or agent of a ship contravenes subsections (1), (2) or (4) or where any person contravenes subsection (3) the master, owner, agent or that person commits an offence and is liable on summary conviction to a fine not exceeding the cedi equivalent of $1 million and the ship shall be detained until the fine is paid.