Article 3

Any reference, however worded, in any mortgage or other document by which a fishing vessel was made security for the repayment of a loan or discharge of any other obligation, to registration of the vessel under Part I or Part IV of the Merchant Shipping Act 1894^f1 (hereinafter called“the 1894 Act”) shall on and after the commencement date be construed as follows:—

(a)

if it is a reference to registration under Part I of that Act it shall be construed as a reference to registration of the vessel under Part II of the principal Act as a vessel to which the provisions of the said Part II relating to transfers by bill of sale and the registration of mortgages apply; and

(b)

if it is a reference to registration under Part IV of the 1894 Act it shall be construed as a reference to registration under Part II of the principal Act as a vessel to which those provisions do not apply.

Annotations

Footnotes

f1: 1894 c. 60.