Section 47E Sale of ship arrested on the dependence of action against demise chartererF1

(1)

This section applies where—

(a)

a ship is arrested on the dependence of an admiralty action against the demise charterer of it; and

(b)

the pursuer obtains decree for payment for all or part of a principal sum concluded for in the action.

(2)

Where the owner or demise charterer of the ship—

(a)

pays the sum due under the decree to—

(i)

the pursuer; or

(ii)

any person who has authority to receive payment on behalf of the pursuer; or

(b)

tenders that sum to any of those persons and the tender is not accepted within a reasonable time,

the arrestment ceases to have effect.

(3)

The court may, on the application of the pursuer, make an order for the sale of the ship.

(4)

Subject to sections 47F and 47G below, the court shall rank any claims made on the proceeds.

(5)

A ship sold under subsection (3) above vests in the purchaser free of any security or other encumbrance.

(6)

The Court of Session may, by Act of Sederunt, make provision relating to proceedings under this section.

Annotations

F1: Ss. 47E-47H and preceding cross-heading inserted (1.7.2010) by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 213, 227(3), Sch. 4 para. 12 (with s. 223); S.S.I. 2010/249, art. 2

C1: Part V extended, with modifications, by Hovercraft Act 1968 (c. 59), s. 2