Section 46: Notices of trust not acceptable

(1)
No notice of any trust, express, implied or constructive shall be entered in any register or received by any Registrar at a port of registry in Nigeria.
(2)
Subject to the provisions of this part of this Act and subject to any rights and powers appearing by the register to be vested in any other person, the registered owner of a ship registered in Nigeria, or any share in the ship, has power absolutely to dispose of the ship or share in the manner provided in this part of this Act, and to give effectual receipts for any money paid or advanced by way of consideration.