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In forceAmended1985 Revised Edition

380. Priority of mortgages

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Amended

Last amended by an amending law of 1970.

If there are more mortgages than one registered in respect of the same ship or share, the mortgagees shall, notwithstanding any express, implied or constructive notice, be entitled in priority one over the other, according to the date and time of the record of each mortgage in the register book and not according to the date of each mortgage itself.[416C

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