# Merchant Shipping (Registration, etc.) Act 1993 (repealed 1.1.1996), Paragraph 10

Extent: E+W+S+N.I.

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.

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Source: https://www.legislation.gov.uk/ukpga/1993/22/schedule/1/paragraph/10 (the official version)
Page: https://openlegislation.uk/merchant-shipping-registration-etc-act-1993-repealed-111996/schedule-1/paragraph-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.