The Merchant Shipping Act, 2025
Section 30. Transfer of mortgages.
(1) A registered mortgage of a vessel or share may be transferred to any person in such manner and the instrument effecting the transfer shall be in such form as may be prescribed.
(2) The person to whom any such mortgage has been transferred shall enjoy the same right of preference as was enjoyed by the transferor.
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
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