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(1) Where a ship registered in a foreign country is sold in exercise of a power conferred by a certificate of sale granted under the law of that country to a person qualified to own a Ghanaian ship, that ship may be registered in Ghana in accordance with this section.

(2) Application for registration anew shall be made to the Registrar and shall be accompanied with the bill of sale by which the ship is transferred, the certificate of sale and the certificate of registry of the ship.

(3) The Registrar, on registration of a ship anew shall,

(a) retain the certificates of sale and registry, and endorse on each of the certificates an entry of the fact of the sale having taken place;

(b) forward the certificates to the Registrar at the ship's former port of registry;

(c) enter in the relevant register the particulars that are, by this Act, required to be entered in it on the first registration of a ship in Ghana; and

(d) state the registered mortgages or certificates of mortgage enumerated on the certificate of sale.

(4) Where a ship is registered under this Part,

(a) the description of the ship contained in its former certificate of registry may be transferred into the relevant register without the ship being resurveyed,

(b) the declaration to be made by the purchaser shall be the same as is required to be made by an ordinary transferee, and

(c) the persons on the register interested in that ship as owners or mortgagees shall have the same rights, and their rights shall be determined in the same manner, as if that ship had been first registered in Ghana in the manner provided in this Act and as if any unsatisfied mortgages or existing certificates of mortgage had been entered in the register at that port.