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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 22 December 1955 - onwards

64. Rules as to certificates of sale.

Amendments (requiring commencement) by Sch. 1 to the Merchant Shipping (Registration of Ships) Act 2014 (No. 43), published 25 December 2014.

The following rules shall be observed as to certificates of sale: -

(1) A certificate of sale shall not be granted except for the sale of an entire ship.

(2) The power shall be exercised in conformity with the directions contained in the certificate.

(3) A sale made in good faith thereunder to a purchaser for valuable consideration shall not be impeached by reason of the person by whom the power was given dying before the making of such sale.

(4) Whenever the certificate contains a specification of the place at which, and a limit of time not exceeding twelve months within which, the power is to be exercised, a sale made in good faith to a purchaser for valuable consideration without notice shall not be impeached by reason of the bankruptcy of the person by whom the power was given.

(5) A transfer made to a qualified person shall be by a bill of sale in accordance with this Act.

(6) If the ship is sold to a qualified person the ship shall be registered anew, but notice of all mortgages enumerated on the certificate of sale shall be entered in the register book.

(7) Before registry anew there shall be produced to the registrar required to make the same the bill of sale by which the ship is transferred, the certificate of sale, and the certificate of registry of such ship.