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The expression "beneficial interest", where ever used in this Part includes interests arising under contract and other equitable interests, and accordingly notwithstanding

(a) any provisions in this Act for preventing notice of trusts from being entered in the register or received by the Registrar; or

(b) the powers of disposition and of giving receipts conferred by this Act on registered owners and mortgagees; or

(c) the provisions of this Act relating to the exclusion of unqualified persons from the ownership of Ghanaian ships, interests arising under contract or other equitable interests may be enforced by or against owners and mortgagees of ships in respect of their interest in it in the same manner as in respect of any other personal property.