Cap. 234 Art. 84KOwnership of ship registered under this Part of this Act. 

(1) This Act shall not assert any ownership rights over a ship registered under this Part of this Act and it shall have no effect with regards to title and transfer and transmission of such ship or shares therein.

(2) Any transfer of ownership of a ship registered under this Part of this Act shall be notified by the charterers to the registrar, and the registration of the ship under this Part of this Act may be closed unless the new owners, within seven days, have informed the registrar that they have no objection to the registration of the ship under this Part of this Act, and, within thirty days of having made such declaration, delivered to the registrar their consent in writing to such registration.