Merchant Shipping Act (Cap. 234), article 337

337. The receiver of wreck may at any time sell any wreck in his custody, if in his opinion - (a) it is under the value of forty-six euro and fifty-nine cents (46.59); or (b) it is so much damaged or of s o perishable a nature that it cannot with advantage be kept; (c) it is not of sufficient value to pay for warehousing; and the proceeds of the sale shal l, after defraying the expense s thereof, be held by the receiver for the same purposes and subj ect to the same claims, rights and liabilities, as if the wreck had remained unsold. Unclaimed wreck. 338. The Government of Malta shall be entitled to all wreck found in Malta which remains unclaimed by the lawful owner for more than one year from the date of the notice given in accordance with article 335. Removal of wrecks Power to remove wrecks. Amended by: XXIV .1995.362.