Merchant Shipping Act 1995 · 2020 Revised Edition · Part 2 · Singapore Registry
25. Mortgage of ship or share
Feedback & supportA Singapore ship or any share therein may be made a security for a loan or other valuable consideration, and the instrument creating the security (called in this Part a mortgage) must be in the prescribed form or as near thereto as circumstances permit, and on production of that instrument the Registrar must record it in the register.
Singapore ship
“Singapore ship” means a ship registered, provisionally or otherwise, under Part 2 and its registry is not closed or deemed to be closed or suspended under that Part;
Mortgages must be recorded by the Registrar in the order in time in which they are produced to him or her for that purpose, and the Registrar must endorse and sign a memorandum on each mortgage stating the date and time of that record.