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 50: Mortgagee not deemed to be owner.
    Except in so far as may be necessary for making a mortgaged ship or share available as a security for the mortgage debt, the mortgagee shall not, by reason of his mortgage, be deemed to be the owner of the ship or share, nor shall the mortgagor be deemed to have ceased to be owner thereof.
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