(1) For the purposes of registration of any other alteration in a ship, the ship's certificate of registry shall be produced to the Registrar within sixty days after the alteration and

the Registrar shall

(a) retain the certificate and grant a new certificate of registry containing a

description of the ship as altered, or

(b) endorse on the existing certificate of registry, a statement of the alteration.

(2) The Registrar shall enter in the Register book the particulars of the alteration and the fact that a new certificate has been granted or an endorsement has been made.