Section 12(3) in The Merchant Shipping (Registration Of Sailing Vessels) Rules, 1960
(3)If the proposed transfer is approved, and after the sale has been effected, the transferee shall present to the registrar of the port a declaration of ownership, the instrument of transfer and the existing certificate of registry of the vessel, and thereupon, the registrar shall enter the particulars of the transfer in his register and issue a fresh certificate of registry.
