S.I. No. 77/1963 - Mercantile Marine Act, 1955 (Section 62) Regulations, 1963.

S.I. No. 77 of 1963.

MERCANTILE MARINE ACT, 1955 (SECTION 62) REGULATIONS, 1963.

I, ERSKINE H. CHILDERS, Minister for Transport and Power, in exercise of the powers conferred on me by section 62 of the Mercantile Marine Act, 1955 (No. 29 of 1955), and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 ( S.I. No. 125 of 1959 ), hereby make the following regulations :

1. These Regulations may be cited as the Mercantile Marine Act, 1955 (Section 62) Regulations, 1963.

2. In these Regulations " the Act " means the Mercantile Marine Act, 1955 (No. 29 of 1955).

3. 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) an Irish body corporate, 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 fifteen tons gross, or

(ii) is a fishing boat which either—

(I) does not exceed thirty-five feet over all in length, or

(II) became registered under the act prior to the 2nd day of July, 1962,

shall be an excepted transaction for the purposes of section 62 of the act.

4. The Merchant Shipping Act, 1947 (Section 10) Regulations, 1954 ( S.I. No. 271 of 1954 ), are hereby revoked.

GIVEN under my Official Seal, this 13th day of May, 1963.

ERSKINE H. CHILDERS,

Minister for Transport and Power.

EXPLANATORY NOTE.

These Regulations provide that the approval of the Minister for Transport and Power is required for the transfer, mortgage or transfer of a mortgage of a ship (or any share in a ship) to persons or corporations outside the State except ships of 15 tons gross or less, fishing boats 35 feet in length or under and fishing boats over this length which were registered prior to 2nd July, 1962.