Section 60: Authority to sell or mortgage out of Nigeria

(1)
If a registered owner of a ship registered in Nigeria or a share in the ship is desirous of disposing by way of sale or mortgage of the ship or share in it at any place out of Nigeria, he may make application, by declaration in writing, to the Registrar at the ship's port of registry.
(2)
In an application under subsection (1) of this section, the registered owner shall set out:
(a)
the name and address of the person in whose favour the application for sale or mortgage is made, together with;
(i) in the case of a sale, the minimum price at which the sale is to be made, if it is intended to fix any such minimum, or
(ii) in the case of a mortgage, the maximum amount ofthe mortgage, if it is intended to fix any such maximum;
(b)
the place where the power is to be exercised, or if no place is specified, a declaration that the power may be exercised anywhere subject to the provisions of this Act;
(c)
the limit of time within which the power may be exercised.
(3)
In the case of an application to dispose of a ship by way of sale under subsection (1) of section 62 of this Act, the Registrar shall enable the applicant to dispose of the ship or share in the manner desired in accordance with subsection (4) of this section.
(4)
The Registrar shall enter in the register a statement of the particulars set out in the application and shall grant to the applicant a certificate of sale or a certificate of mortgage as the case may require.
(5)
A certificate of sale and a certificate of mortgage shall:
(a)
each be in a form approved by the Minister for the purpose;
(b)
not authorise any sale or mortgage to be made in Nigeria, or by any person not named in the certificate; and
(c)
contain a statement of the particulars set out in the application and also a statement of any registered mortgages and certificates of sale or mortgage affecting the ship or share in respect of which the certificate is given.
(6)
Any document purporting to signify the consent of the Minister to the grant of a certificate of sale and purporting to be signed by the Minister or any person authorized by him for the purpose, shall be admissible in evidence.