26. (1) An inland ship registered under this Ordinance or any share therein shall not, without the previous approval of the Government, be transferred except to a person who is a citizen of, and residing and carrying on business in, Bangladesh nor shall any such ship be transferred, except by a bill of sale executed before and attested by a Magistrate of the first class. (2) Where an inland ship registered under this Ordinance is transferred, the transferor and the transferee shall, within ¹[forty-five days] of the transfer, jointly make a report accompanied by the bill of sale or a certified copy thereof and a prescribed fee of the transfer to the registrar who shall enter the particulars of the transfer in the register book: Provided that the registrar may, if he is otherwise satisfied about the identity of the transferor and the transferee, dispense with the requirement of the joint report and act on the report either of the transferor or the transferee.