Singapore legislation
Section 378
Section 378
Obligation of mortgagor before execution and registration of mortgage
Amended by56/70
(1)
Before executing any mortgage to be registered under this Act, the mortgagor shall disclose in writing to the mortgagee the existence of any maritime lien, prior mortgage, or other liability in respect of the ship to be mortgaged, which is known to the mortgagor.
Amended by56/70
(2)
Where the mortgagor has failed to comply with this section the mortgage debt shall at the election of the mortgagee become immediately due and payable, notwithstanding anything to the contrary in the mortgage.[416A