Act Number: 44

Act Name: The Merchant Shipping Act, 1958

Year: 1958

Enactment Date: 1958-10-30

Long Title: An Act to foster the development and ensure the efficient maintenance of an Indian mercantile marine in a manner best suited to serve the national interests and for that purpose to establish a National Shipping Board to provide for the registration, certification, safety and security of Indian ships and generally to amend and consolidate the law relating to merchant shipping.

Ministry: Ministry of Shipping

Department:

Section 49: Priority of mortgages.
    If there are more mortgages than one recorded in respect of the same ship or share, the mortgagees shall, notwithstanding any express, implied or constructive notice, have priority according to the date on which each mortgage is recorded in the register book and not according to the date of each mortgage itself.
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