Section 41: Mortgagees not treated as owner.––Except as far as may be necessary for making a — Pakistan Merchant Shipping Ordinance, 2001

Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.

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41. Mortgagees not treated as owner.––Except as far as may be necessary for making a mortgaged ship or share available as a security for the mortgage debt, the mortgagee shall not, by reason of the mortgage, be deemed the owner of the ship or share nor shall the mortgagor be deemed to have ceased to be the owner thereof.

Effective date: 2001-01-01

Related sections

Section 40: Priority of mortgage.––If there are more mortgages than one registered in respect of Section 42: Mortgagee to have power of sale.––Every registered mortgagee shall have power if Section 39: Entry of discharge of mortgage.––Where a registered mortgage is discharged, the Section 43: Mortgage not affected by bankruptcy.––A registered mortgage of a ship or share shall Section 38: Mortgage of ship or share Section 44: Transfer of mortgages.––A registered mortgage of a ship or share may be transferred to

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