(1) Where a Saint Lucian ship is sold, in exercise of a power conferred by a certificate of sale granted under this Part, to persons qualified to own a Saint Lucian ship—
(a) a transfer of the ship shall be made by the bill of sale in the manner provided by this Part; and the bill of sale, when duly executed, and the certificate of sale shall be produced to a proper officer at the place at which the ship is sold, and that officer shall thereupon endorse and sign on the certificate of sale a statement of the fact that the ship has been sold, and shall notify the Registrar of Ships;
(b) the ship may be registered anew in the manner provided by this Act; and
(c) the Registrar of Ships upon receipt of the certificate of sale and the ship's certificate of registry from a proper officer each of those certificates having endorsed thereon an entry of the fact of the sale of the ship having taken place, shall thereupon enter the sale of the ship in the register book.
(2) Where a Saint Lucian ship is sold in exercise of a power conferred by a certificate of sale, granted under this Part, to persons not qualified to own a Saint Lucian ship—
(a) the certificate of sale and the certificate of registry shall be produced to the proper officer at the place at which the ship is sold and he or she shall retain those certificates, and shall endorse and sign on each of them a statement of the fact of that ship having been sold to persons not qualified to own a Saint Lucian ship;
(b) the proper officer making the endorsements required by paragraph (a) shall forward the certificates of sale and the certificate of registry, each being duly endorsed, to the Registrar of Ships;
(c) the Registrar of Ships, upon receipt of the certificates of sale and the certificate of registry, each being endorsed in accordance with paragraphs (a) and (b), shall make an entry of the sale in the register book, and the registration of the ship shall be considered as closed, except as far as relates to any unsatisfied mortgages or existing certificates of mortgage entered therein; and
(d) where default is made in the production of the certificates mentioned in this subsection, the persons to whom the ship is sold shall be considered to have acquired no title to or interest in the ship, and the person on whose application the certificate of sale was granted, and the person exercising the powers conferred thereby, are each guilty of an offence.
(3) Where no agreement for sale is entered into in exercise of the powers conferred by a certificate of sale granted under this Part, that certificate shall be delivered to the Registrar of Ships, and the Registrar of Ships shall thereupon cancel the certificate, and shall enter the fact of the cancellation in the register book; and every certificate so cancelled shall be void.