S.I. No. 271/1954 - Merchant Shipping Act, 1947 (Section 10) Regulations, 1954.

S.I. No. 271 of 1954.

MERCHANT SHIPPING ACT, 1947 (SECTION 10) REGULATIONS, 1954.

I, WILLIAM NORTON, Minister for Industry and Commerce, in exercise of the powers conferred on me by section 10 of the Merchant Shipping Act, 1947 (No. 46 of 1947), hereby make the following regulations :

1. These Regulations may be cited as the Merchant Shipping Act, 1947 (Section 10) Regulations, 1954.

2. A transaction which—

(a) is a transfer, mortgage or transfer of a mortgage in which both the transferor or mortgagor and the transferee or mortgagee is one or more than one of the following:—

(i) a person ordinarily resident in the State,

(ii) a company incorporated in the State, or

(b) is a transfer, mortgage or transfer of a mortgage of a ship (or any share in a ship) which either—

(i) does not exceed 15 tons gross, or

(ii) is a fishing boat,

shall be an excepted transaction for the purposes of section 10 of the Merchant Shipping Act, 1947 (No. 46 of 1947).

3. The Merchant Shipping Act, 1947 (Section 10) Regulations, 1948 ( S.I. No. 39 of 1948 ), are hereby revoked.

GIVEN under my Official Seal, this 4th day of December, 1954.

WILLIAM NORTON,

Minister for Industry and Commerce.