The Designation of Abandonment mentioned in the preceding paragraph shall be made in the form of a Notification.

The designation mentioned in Paragraph 1 shall not be made with respect to any vessel which is known to have, or may reasonably be presumed to have, the nationality of any one of the United Nations, nor with respect to any vessel which is to be subject to confiscation under the provisions of other Laws and Ordinances.

The Marine Authorities shall, according to the provisions of Order, make a public notice to the effect that the vessel has been designated as abandoned, notifying thereby the persons specified below at the same time of their right to make application for return of the designated vessel, or for payment, as provided in this Law, within three months of the date of publication of the public notice, and likewise informing the owner that he may claim return of the vessel, without cost, within the 30-day period as provided in Paragraph 3 of this Article 2 (hereinafter called the grace period). In case any such persons are known or discovered, the Marine Authorities shall further notify them individually, in writing, of their rights under this Law. The persons entitled under the above provisions are:

The owner of a designated vessel or his agent who has made application for its return in accordance with the provisions of the preceding paragraph, may, within 30 days following the date of public notice or the date of individual notification, whichever is later in date, as provided for in the same paragraph, claim the delivery of the said designated vessel to the Marine Authorities. The vessel shall be returned immediately to the owner. In this case, the owner of the said designated vessel need not bear the expenses as specified in Article 3, nor are the persons specified in this Article, Paragraph 2, Items 3 and 4 entitled to the payment of the sum as specified in Article 3, Paragraph 1, Items 2 and 3.

The provisions of the preceding paragraph shall not apply to the vessel which has been reported as an abandoned vessel to the Marine Authorities prior to the date of the enforcement of this Law and whose owner has not yet been discovered by the Marine Authorities'investigation.

The value of a designated vessel referred to in Item 2 of the preceding paragraph shall be the fair, current value estimated by an appraiser, appointed by the Minister of Transportation.

The Marine Authorities shall not deliver the said designated vessel to her owner, until and unless they have received the entire amount as provided for in Paragraph 1;except that the Minister of Transportation may extend the period for payment for a period of ninety days when in his discretion he deems this necessary to avoid hardship and injustice.

Any previous right, in a designated vessel shall lapse with the sale as mentioned in the preceding Paragraph, and the purchaser thereof shall acquire absolute ownership.

The purchaser of a designated vessel at a public sale, in accordance with the provisions of paragraph 1, shall be entitled to get registered as the true owner of the said vessel under the provisions of Order.

The sum specified in Article 3, Paragraph 1, Items 1 and 4 shall become the property of the National Treasury from the time when the Marine Authorities have received either the sum specified in the same paragraph or the proceeds of the sale effected by virtue of Paragraph 1 of the preceding Article. The sum equal to the costs required for the sale as provided for in Paragraph 1, of the preceding Article shall become the property of the National Treasury from the time when the Marine Authorities have received the proceeds of the sale effected by virtue of Paragraph 1 of the same Article.

In case where there are many persons falling under Article 2, Paragraph 2, Item 5 and the sum deposited according to the provisions of the preceding Article is not sufficient to pay the total claimed sum, they may exercise their rights in proportion to their respective sum of claim.

In case any person specified in Article 2, Paragraph 2, Item 2 or Item 5 has made application, according to the provisions of the same paragraph, the sum deposited according to the provisions of Article 6 shall become the property of the National Treasury after the expiration of the period as provided for in Article 7, Paragraph 1, deducting such sum as paid to the claimants according to the provisions of the preceding Article.

In the case contemplated in the preceding paragraph, if a designated vessel has already been sold in accordance with the provisions of Article 4, Paragraph 1, the person specified in the preceding paragraph may, within five (5) years following the date of the sale effected by virtue of the provisions of Article 4, Paragraph 1, claim the delivery of the designated vessel in accordance with the provisions of the preceding paragraph. If, in this case, a claim has been made for the delivery of the designated vessel, the Marine Authorities may be relieved of the duty of delivery by paying the full amount of proceeds of the sale thereof to such a person as is specified in the preceding paragraph.

The provisions of the two preceding paragraphs shall not apply to the case where the person designated in Paragraph 1 abandoned his ownership, or where the owner has acquired the nationality of the United Nations, or a United Nations'national has acquired the ownership of such designated vessel, after the vessel has been designated according to the provisions of Article 1, Paragraph 1.