Merchant Shipping (Registration of Ships) Act 2014

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Notices by intending mortgagees — priority notices

56. (1) A person who is an intending mortgagee of—

(a) a ship registered or to be registered on specified Parts of the Register, or

(b) a share in a ship registered or to be registered on specified Parts of the Register,

may inform in writing the Minister of his or her interest under the proposed mortgage.

(2) The Minister shall record that interest on the Register.

(3) The Minister may make regulations to provide for the giving to the Minister, by intending mortgagees of ships registered or to be registered on specified Parts of the Register, of priority notices in an approved form and containing prescribed information which, when recorded on the Register, determines the priority of the interest to which the notice relates, during such period of time specified in the regulations.