(2)The Central Government may, if it considers it necessary or expedient so to do for the purpose of conserving the tonnage of Indian shipping, refuse to give its approval to any such transfer or acquisition.[(2-A) No transfer or acquisition of any Indian ship shall be valid unless-(a)all wages and other amounts due to seamen in connection with their employment on that ship have been paid in accordance with the provisions of this Act;(b)the owner of the ship has given notice of such transfer or acquisition of the ship to the Director General.]
