Malaysia legislation
Section 39
Section 39
(2)
Where any registered Malaysian ship or a share therein has been transferred in accordance with subsection (1), the transferee shall not be registered as owner of the ship unless—
(a)
he has made an application to the Registrar in the form as may be determined by the
Director of Marine; and
(b)
the Registrar is satisfied that the ship continues to be owned to an extent as may be determined by the Minister by a person who is qualified to own a Malaysian ship and that he would not refuse to register the ship.
(3)
Where an application under subsection (2) is granted by the Registrar, he shall register the bill of sale.
Transmission of shares in
Malaysian ship.