(1) A notice of any trust, express, implied or constructive, shall not be entered in the register book or be receivable by the Registrar of Ships.
(2) Subject to any rights and powers appearing on the register book to be vested in any other person, the registered owner of a Saint Lucian ship or of a share therein shall have power absolutely to dispose of the ship or share therein in the manner provided by this Act and to give effectual receipts for any money paid or advanced by way of consideration.