Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 22 December 1955 - onwards
54. Mortgagee to have power of sale.
Amendments (requiring commencement) by Sch. 1 to the Merchant Shipping (Registration of Ships) Act 2014 (No. 43), published 25 December 2014.
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Every registered mortgagee shall have power absolutely to dispose of the ship or share in respect of which he is registered, and to give effectual receipts for the purchase money, but where there are more persons than one registered as mortgagees of the same ship or share, a subsequent mortgagee shall not, except under the order of a court of competent jurisdiction, sell the ship or share, without the concurrence of every prior mortgagee.