Section 46: Transfer and transmission of mortgage
consolidated text (as at 2011, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
46. Transfer and transmission of mortgage
(1) A registered mortgage of a ship or share may be transferred to any
person, and on production of the instrument effecting the transfer, the Registrar shall record it by entering in the Register the name of the transferee as
mortgagee, and sign on the instrument of transfer a statement to the effect
that it has been registered by him.
(2) (a) Where the mortgage interest in a ship or share is transmitted to a
person by any lawful means, other than by a transfer under subsection (1),
that person shall produce to the Registrar a statement of the manner in
which, and the person to whom, the property has been transmitted together
with such evidence as is required for a transmission of the ownership of a
ship or share.
(b) The Registrar shall, on receipt of a statement referred to in paragraph (a), enter the name of the person entitled under the transmission in the
Register as mortgagee of the ship or share.