Section 426
Restriction on transfer of sailing vessel.
The Merchant Shipping Act, 1958
About this Act
An Act to foster the development and ensure the efficient maintenance of an Indian mercantile marine in a manner best suited to serve the national interests and for that purpose to establish a National Shipping Board to provide for the registration, certification, safety and security of Indian ships and generally to amend and consolidate the law relating to merchant shipping.
No person shall transfer or acquire any sailing
vessel registered under this Part or any interest therein without the previous approval of the Central
Government; and any transaction effected in contravention of this section shall be void and
unenforceable.