48. (1) When a ship is so altered as not to correspond with the particulars relating to her tonnage or description contained in the Register Book, then, if the alteration is made at any port having a Registrar, that Registrar, or if it is made elsewhere, the Registrar of the first port having a Registrar at which the ship arrives after the alteration, shall, on application being made to him stating the particulars of the alteration, either cause the alteration to be registered or direct that the ship be registered anew and every such application shall be made, unless the Registrar considering the circumstances of each case allows a longer period within three days after the alteration or, as the case may be, the arrival. (2) For the purpose of registry of an alteration in a ship, the ship's Certificate of Registry shall be produced to the Registrar, and the Registrar shall, in his discretion, either retain the Certificate and grant a new Certificate of Registry containing a description of the ship as altered, or endorse and sign on the existing Certificate a memorandum of the alteration. (3) The particulars of the alteration as made, and the fact of the new Certificate of Registry having been granted, or endorsement having been made, shall be entered by the Registrar of the ship's port of registry in his Register Book, and for that purpose the Registrar to whom the application for the registry of the alteration has been made, if he is not himself the Registrar of the ship's port of registry, shall forthwith report to the last mentioned Registrar the particulars and facts as aforesaid, accompanied, where a Certificate of Registry has been granted, by the old Certificate of Registry. (4) If an owner fails to make an application under sub section (1) for registering anew a ship or for registering an alteration of a ship, he shall be punishable with fine which may extend to fifty thousand Taka and with a further fine which may extend to one thousand Taka for everyday after the first during which the failure continues.