Section 53
Assured who has no interest cannot assign.
The Marine Insurance Act, 1963
About this Act
An Act to codify the law relating to marine insurance.
Where the assured has parted with or lost his
interest in the subject-matter insured, and has not, before or at the time of so doing expressly or impliedly
agreed to assign the policy, any subsequent assignment of the policy is inoperative:
Provided that nothing in this section affects the assignment of a policy after loss.
Provided that nothing in this section affects the assignment of a policy after loss.