Section 64: General rules for certificate of sales

(1)
A certificate of sale of a ship shall not be granted under this Act except-
(a) for the sale of an entire ship; and
(b)
upon an application, made by declaration in writing by all persons appearing on the register to be interested in the ship, as owners or mortgagees of the ship.
(2)
The power conferred by a certificate issued under this Act shall be exercised in conformity with the directions contained in the certificate.
(3)
A sale made in good faith in exercise of the power conferred by a certificate issued under this Act to a purchaser for valuable consideration shall not be impeached by reason of the death of the person who gave the power before the sale.
(4)
Whenever any certificate of sale contains a specification of the place at which, and a limit of time not exceeding twelve months within which the power is to be exercised, a sale made in good faith to a purchaser for valuable consideration without notice, shall not be impeached by reason of the bankruptcy of the person by whom the power was given.