Section 38: Mortgage of ship or share — 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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38. Mortgage of ship or share.—(1) A registered ship or a share therein may be made a security for a loan or other valuable consideration and upon production of instrument creating the security (in this Ordinance called a mortgage), the registrar of the ship’s port of registry shall record it in the register book. The instrument creating the security shall have a summary attached in the prescribed form to be recorded by the registrar. (2) Mortgages shall be recorded by the registrar in the order in time in which they are produced to him for that purpose, and the registrar shall by memorandum under his hand notify on each mortgage that it has been recorded by him stating the day and hour of that record.

Effective date: 2001-01-01

Related sections

Section 37: Power of court to prohibit transfer.––Where the ship is registered in Pakistan the High Section 39: Entry of discharge of mortgage.––Where a registered mortgage is discharged, the Section 36: Transfer of ship on sale by order of court.––Where any court, whether under the Section 40: Priority of mortgage.––If there are more mortgages than one registered in respect of Section 35: Order for sale on transmission to unqualified person Section 41: Mortgagees not treated as owner.––Except as far as may be necessary for making a

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