(1) Where a registered owner of a Saint Lucian ship or share therein, is desirous of disposing by way of sale or mortgage of that ship or share therein at any place out of Saint Lucia, he or she may make application, by declaration in writing, to the Registrar of Ships.
(2) In any such application, there shall be set forth 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 thereof, 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, subject to this Act;
(c) the limit of time within which the power may be exercised.
(3) Subject to section 70(1), in the case of an application to dispose of a ship by way of sale, the Registrar of Ships shall enable any such applicant to dispose of the ship or share therein in the manner desired in accordance with subsection (4).
(4) On receiving an application made under this section, the Registrar of Ships shall enter in the register book a statement of the particulars set forth 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—
(a) shall each be in the prescribed form;
(b) shall not authorise any sale or mortgage to be made in Saint Lucia, or by any person not named in the certificate; and
(c) shall contain a statement of the particulars set forth in the application, and also a statement of any registered mortgages and certificates of sale or mortgage affecting the ship or share therein, in respect of which the certificate is given.