Singapore legislation
Section 297
Section 297
Removal of wreck by receiver
(1)
Where any vessel is sunk, stranded or abandoned within the territorial waters of Singapore but outside the limits of any port in such a manner as, in the opinion of the receiver, to be or to be likely to become an obstruction or danger to navigation, that receiver may —
take possession of, and raise, remove or destroy the whole or any part of the vessel;
light or buoy any such vessel or part until the raising, removal or destruction thereof; and
sell, in such manner as he thinks fit, any vessel or part so raised or removed, and also any other property recovered in the exercise of his powers under this section, and out of the proceeds of the sale reimburse himself for the expenses incurred by him in relation thereto under this section, and the receiver shall hold the surplus, if any, of the proceeds in trust for the persons entitled thereto.
(2)
A sale shall not, except in the case of property which is of a perishable nature, or which would deteriorate in value by delay, be made under this section until at least 7 clear days’ notice of the intended sale has been given by advertisement in some local newspaper circulating in or near the district over which the receiver has control.
(3)
At any time before any property is sold under this section, the owner thereof shall be entitled to have the property delivered to him on payment to the receiver of the fair market value thereof, to be ascertained by agreement between the receiver and the owner, or failing agreement, by some person to be named for the purpose by the Authority.
(4)
The sum paid to the receiver as the value of any property under this provision shall, for the purposes of this section, be deemed to be the proceeds of sale of that property.[319