Merchant Shipping Act 1995 · 2020 Revised Edition · Part 2 · Singapore Registry
26. Obligation of mortgagor before execution and registration of mortgage
Feedback & supportBefore executing any mortgage to be registered under this Act, the mortgagor must 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.
ship
“ship” means any kind of vessel used in navigation by water, however propelled or moved and includes —(a)a barge, lighter or other floating vessel;(b)an air-cushion vehicle, or other similar craft, used wholly or primarily in navigation by water; and(c)an off-shore industry mobile unit;
Where the mortgagor has failed to comply with this section, the mortgage debt must, at the election of the mortgagee, become immediately due and payable, despite anything to the contrary in the mortgage.