5(1)Where any court (whether under paragraph 4 above or otherwise) order the sale of any registered ship or share in a registered ship, the order of the court shall contain a declaration vesting in some named person the right to transfer the ship or share.U.K.
(2)The person so named shall be entitled to transfer the ship or share in the same manner and to the same extent as if he were the registered owner of the ship or share.
(3)The registrar shall deal with any application relating to the transfer of the ship or share made by the person so named as if that person were the registered owner.