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MARINE INSURANCE ACT 1906 - SECT 50 



50.(1) A marine policy is assignable unless it contains terms expressly
prohibiting assignment. It may be assigned either before or after loss.

(2) Where a marine policy has been assigned so as to pass the beneficial
interest in such policy, the assignee of the policy is entitled to sue thereon
in his own name; and the defendant is entitled to make any defence arising out
of the contract which he would have been entitled to make if the action had
been brought in the name of the person by or on behalf of whom the policy was
effected.

(3) A marine policy may be assigned by indorsement thereon or in other
customary manner.

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© 1906 Crown Copyright

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