A registered mortgage of a vessel or share shall not be affected by any act of insolvency committed by the mortgagor after the date of the record of such mortgage, notwithstanding that the mortgagor, at the commencement of his insolvency, had the vessel or share in his possession, order or disposition, or was the reputed owner thereof, and the mortgage shall be preferred to any right, claim or interest therein of the other creditors of the insolvent or any trustee or assignee on their behalf.
Section 29: Mortgage not affected by insolvency.
The Merchant Shipping Act, 2025Central Act · Act 24 of 2025
Where this provision sits
| Act | The Merchant Shipping Act, 2025 |
|---|---|
| Section | 29 |
| Marginal note | Mortgage not affected by insolvency. |
| Jurisdiction | Central |
| Status | In force as published by the source |
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