Merchant Shipping Act : Priority of mortgages. Indian Bare Acts :

Merchant Shipping Act,1958

Act No : 44

Section : Priority of mortgages.

49. Priority of mortgages. If there are more mortgages than one recorded in respect of the same ship or share, the mortgagees shall, notwithstanding any 432 express, implied or constructive notice, have priority according to the date on which each mortgage is recorded in the register book and not according to the date of each mortgage itself.