Section 43: Mortgage not affected by bankruptcy.––A registered mortgage of a ship or share shall — 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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43. Mortgage not affected by bankruptcy.––A registered mortgage of a ship or share shall not be affected by any act of bankruptcy committed by the mortgagor after the date of the record of the mortgage notwithstanding that the mortgagor at the commencement of his bankruptcy had the ship or share in his possession, order, or disposition, or was the reputed owner thereof, and the mortgage shall be preferred to any right, claim, or interest therein of the other creditors of the bankrupt or any trustee or assignee on their behalf.

Effective date: 2001-01-01

Related sections

Section 42: Mortgagee to have power of sale.––Every registered mortgagee shall have power if Section 44: Transfer of mortgages.––A registered mortgage of a ship or share may be transferred to Section 41: Mortgagees not treated as owner.––Except as far as may be necessary for making a Section 45: Transmission of interest in mortgage by death, bankruptcy or marriage, etc Section 40: Priority of mortgage.––If there are more mortgages than one registered in respect of Section 46: Powers of mortgage and sale.––A registered owner, if desirous by way of mortgage or

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