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(1) Where a registered owner of a Ghanaian ship or a share in it, desires to dispose of the ship or the share in it by sale or mortgage at any place out of Ghana, the registered owner may make application, by declaration in writing, to the Registrar.

(2) The application shall contain the following particulars:

(a) the name and address of the person by whom the power mentioned in the certificate is to be exercised, together with

(i) in the case of a sale, the minimum price at which a sale is to be made if it is intended to fix any such minimum; or

(ii) in the case of a mortgage, the maximum amount, if it is intended to fix any such maximum;

(b) the place where the power is to be exercised, or, if no place is specified, a declaration that the power may be exercised anywhere as may be specified; and

(c) the time limit within which the power may be exercised.

(3) Subject to section 60(1), in the case of an application to dispose of a ship by way of sale the Registrar shall enable the applicant to dispose of the ship or the share in the manner required in accordance with subsection (4).

(4) On receipt of an application made under this section, the Registrar shall enter in the register book a statement of the particulars set out in the application, and shall grant to the applicant a Certificate of Sale or a Certificate of Mortgage, as the case may require.

(5) A certificate of sale and a certificate of mortgage of a ship shall

(a) be in the prescribed form;

(b) not authorise any sale or mortgage to be made in Ghana or by any person not named in the certificate; and

(c) contain a statement of the particulars set out in the application and also a statement of any registered mortgages or sale and the relevant certificates issued.