Merchant Shipping Act (Cap. 234), article 348

348. The owners of a Maltese ship shall not be liable to make good, to any extent whatever, any loss or damage happening without their actual fault or privity in the following cases, namely: (a) where any goods, merchandise, or other things whatsoever, taken in or put on board their ship are lost or damaged by reason of fire on board the ship; or (b) where any gold, silver, diamonds, watches, jewels, or precious stones, are taken in or put on board their ship, the true nature and value of which have not at the time of the shipment been declared by the owner or shipper thereof to the owner or master of the ship in the bills of lading or otherwise in writing, are lost or damaged by reason of any theft, embezzlement, making away with or secreting thereof. Limitation of liability in certain cases.