(1) Where a Ghanaian ship is sold to a person qualified to own a Ghanaian ship, in exercise of a power conferred by a certificate of sale granted under this Part,

(a) the transfer of the ship shall be made by a bill of sale and the certificate of sale issued shall be produced to a proper officer at the place where the ship is sold who shall endorse the certificate of sale with a statement of the fact that the ship has been sold, and shall forthwith notify the Registrar;

(b) the ship may be registered anew in the manner provided by this Act; and

(c) the Registrar on receipt of the certificate of sale and the ship's certificate of registry from a proper officer shall endorse them to the effect that the ship has been sold and the sale shall be entered in the relevant register.

(2) Where a Ghanaian ship is sold to a person not qualified to own a Ghanaian ship in the exercise of a power conferred by a certificate of sale, granted under this Part,

(a) the certificate of sale and the certificate of registry shall be produced to the proper officer at the place where the ship is sold, and the officer shall endorse a statement that the ship has been sold to a person not qualified to own a Ghanaian ship;

(b) the officer making the endorsements shall forward the certificates of sale and registry, each being duly endorsed, to the Registrar;

(c) the Registrar, shall on receipt of the certificates of sale and registry make an entry of the sale in the relevant register;

(d) the registration of the ship shall be considered as closed, except as far as it

relates to any unsatisfied mortgages or existing certificate of mortgage entered in it;

(e) where default is made in the production of the certificates mentioned in this

subsection, the person to whom the ship is sold shall be considered to have acquired no title to or interest in the ship; and

(f) the person on whose application the certificate of sale was granted under this subsection, and the person exercising the powers conferred thereby, each commits an offence.

(3) Where an agreement for sale is not entered into, in exercise of the power conferred by a certificate of sale granted under this Part, that certificate shall be delivered to the Registrar, and the Registrar shall cancel the certificate, and enter the cancellation in the register.