(1) Where services are rendered by any master or salvor or any person other than the authority notified by the Central Government,---
(a) wholly or in part within the territorial waters of India in saving life from any vessel, or elsewhere in saving life from a vessel registered in India; or
(b) in assisting a vessel or saving the cargo or equipment of a vessel which is wrecked, stranded or in distress at any place to which this Chapter applies; or
(c) in saving any wreck,
there shall be payable to such master or salvor or person by the owner of the vessel, cargo, equipment or wreck, a reasonable sum for salvage having regard to all the circumstances of the case.
(2) A master or person or salvor rendering salvage under clause (a) of sub-section (1) shall be entitled to a fair share of the payment for the salvage of the vessel or other property or preventing or minimising damage to the environment.
(3) Salvage in respect of the preservation of life when payable by the owner of the vessel shall be payable in priority to all other claims for salvage.