It shall be the duty of every person who sells or transfers ownership of any bicycle to report such sale or transfer to the Safety-Service Director or his authorized representative, and if such person has had his bicycle licensed and registered he shall also return to the Director the registration card and license tag and furnish the Director with the name and address of the person to whom the bicycle was sold or transferred, and such report shall be made by the person selling or transferring within five days of the date of the sale or transfer.
   It shall be the duty of the purchaser or transferee of such bicycle to apply immediately for a registration card and license tag.
(R.O. 1946, C. 6, Sec. 7.)