Singapore legislation

Section 131

of Merchant Shipping Act 1995

Section 131

Application of proceeds of sale

(1)

The proceeds of sale of the goods must be applied by the wharfinger or warehouseman as follows and in the following order:

(a)

firstly, in payment of any duties payable to the Government in respect thereof;

(b)

secondly, in payment of the expenses of the sale;

(c)

thirdly, in payment of the charges of the wharfinger or warehouseman and the shipowner according to such priority as is determined by the terms of the agreement (if any) in that behalf between them; or, if there is no such agreement —

(i)

in payment of the rent, rates and other charges due to the wharfinger or warehouseman in respect of the goods; and

(ii)

in payment of the amount claimed by the shipowner as due for freight or other charges in respect of the goods.

(2)

The surplus (if any) must be paid to the owner of the goods.

Read in full context — Merchant Shipping Act 1995 →