71.—(1) Subject to paragraph (2) the registration of a ship registered on Part I of the Register may be transferred from the Register to the register of a port in a relevant British possession.
(2) Where an application is made under this regulation for the transfer of a ship’s registration under paragraph (1), the Registrar shall not proceed to deal with the application unless he is satisfied that registration of the ship at the intended port of registration is not precluded by:—
(a)any Order in Council in force under section 11 of the Merchant Shipping Act 1988(1), or
(b)any provision of the law in force in the possession in question;
and any certificate purporting to be signed by the registrar of the intended port of registration and stating that any such provision is in force shall be conclusive evidence for the purposes of this paragraph of the matters stated in it.
(3) Where the registrar of the intended port of registration issues a certificate of registry following any such application and on notification of the transfer by the registrar of the new port of registration, the Registrar shall terminate the registration of the ship.
(4) Where the registration of a ship is transferred under this regulation the certificate of registry shall be surrendered to the Registrar for cancellation.