(1) Where a ship is provisionally registered, a mortgage executed outside Ghana may be produced to a consular officer who shall notify the Registrar of the production of the mortgage.

(2) The Registrar shall, as soon as possible record the names of the parties and the amount secured on the mortgage.

(3) Where the Registrar has received notice of a provisional registration of a ship and of the production of a mortgage relating to the ship, the mortgage shall be considered as registered and its priority shall be preserved from the time of receipt by the Registrar of the notice of the mortgage.

(4) The Registrar shall make an appropriate entry in the relevant register book from the time of receipt of the mortgage, or from the time of the receipt of the notice of mortgage, whichever first occurs.

(5) The provisions of subsections (3) and (4) of section 50 shall apply to mortgages under this section as they apply to mortgages under that section, except that the day and hour of record shall not derogate from any priority preserved under subsections (3) and (4) of this section.

(6) On the final registration of a ship provisionally registered under this section the priority of any mortgage recorded under this section shall be preserved notwithstanding that the provisional registration may have ceased to have effect before the final registration.