Sale of ship by order of Court

Where a court of competent jurisdiction orders the sale of any ship, the order of the Court shall contain a declaration of vesting in some person named by the Court the right to transfer that ship, and that person shall thereupon be entitled to transfer the ship in the same manner and to the same extent as if he were the registered owner thereof, and the Registrar shall give effect to the request of the person so named in respect of any such transfer and/or to the request of any person deriving title to the vessel under a bill of sale executed by the person so named, to the same extent as if such named person or transferee were the registered owner, as the case may be.