Merchant Shipping Act (Cap. 234), article 49

49. A foreign mortgage shall be recognised as a mortgage with the status and all the rights and powers specified in this Act, notwithstanding the fact that it is not entered over a register ed ship if: (a) such mortgage has been v alidly recorded in the registry of ships of the country under whose laws the ship is documented; (b) such registry is a public registry; (c) such mortgage appears upon a search of the registry and (d) such mortgage is granted a preferential and generally equivalent status as a mortgage under this Act under the laws of the country where the mortgage is registered. Registration of mortgages over ships under construction. Added by: I.2025.25.