Merchant Shipping Order, 2002 · s 31

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 31

(1)

A registered mortgage of a ship or any share therein may be transferred to any person and the instrument effecting the transfer shall be in the prescribed form or as near thereto as circumstances permit, and on production of such instrument, the Registrar shall record the transfer by entering in the register the name of the transferee as mortgagee of the ship or share and shall endorse and sign on the instrument of transfer a memorandum that the transfer has been recorded by him stating the date and time of the record.

(2)

The person to whom any registered mortgage has been transferred shall enjoy the same right of preference as was enjoyed by the transferor.

Transmission of interest in mortgage in certain circumstances.