Act Number: 11

Act Name: The Marine Insurance Act, 1963

Year: 1963

Enactment Date: 1963-04-18

Long Title: An Act to codify the law relating to marine insurance.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 53: Assured who has no interest cannot assign.
    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.
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