Merchant Shipping Act (Cap. 234), article 48

48. (1) In case of loss of any regi stered mortgage instrument the registrar shall, at the reque st of the mortgagee alone, or together with the mortgagor, reconstitute the original mortgage and cert ify this instrument as a reconstituted original of the mortgage instrument. The registrar shall only accede to such a request u pon the production by the party making the request of a sworn declaration to the e ffect that the original has been lost. (2) In such a case the registrar shall make a note in the regist er that a reconstituted mortgage in strument has been issued, recit ing at whose request such a reconstit uted mortgage has been issued. (3) In case of loss of any original mortgage instrument, the registrar may enter any transfer or discharge of mortgage if th e mortgagee produces a sworn declar ation that he is the holder of the mortgage, the instrument of which has been lost, and that he is discharging or transferring the said security in virtue of the sworn declaration. (4) In such a case the registrar shall, on production of the sai d sworn declaration, treat such declaration as the mortgage instrument and shall follow the procedure specified in this Act for the transfer or discharge of mortgage; the registrar shall make a note in the register that the transfer or discharge of mortgage has taken place in virtue of a sworn declaration. M E R C H A N T S H I P P I N G [CAP. 234. 35 Recognition of foreign mortgages. Substituted by: XXXVII. 1988.27.