Paragraph 10

United Kingdom

Where a ship or share is subject to a registered mortgage—

(a)

except so far as may be necessary for making the ship or share available as a security for the mortgage debt, the mortgagee shall not by reason of the mortgage be treated as owner of the ship or share; and

(b)

the mortgagor shall be treated as not having ceased to be owner of the ship or share.

Notes on the whole Act

Textual amendments

F1: Act repealed (1.1.1996) by 1995 c. 21, ss. 314(1), 316(2), Sch. 12 (with s. 312(1), Sch. 14 para. 1) as amended (1.6.2004) by Merchant Shipping (Confirmation of Legislation and Repeals) (Jersey) Order 2004 (S.I. 2004/1284), art. 3

Notes on Schedule 1

Modifications

C1: Sch. 1 restricted (21.3.1994) by S.I. 1993/3138, reg.91.