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MERCHANT SHIPPING ACT 1894 - SECT 40

Requisites for certificates of mortgage and sale.

40. Before a certificate of mortgage or sale is granted, the applicant shall
state to the registrar, and the registrar shall enter in the register book,
the following particulars; (that is to say)

(i)the name of the person by whom the power mentioned in the certificate is to
be exercised, and in the case of a mortgage the maximum amount of charge to be
created, if it is intended to fix any such maximum, and in the case of a sale
the minimum price at which a sale is to be made, if it is intended to fix any
such minimum:

(ii)the place where the power is to be exercised, or if no place is specified,
a declaration that it may be exercised anywhere, subject to the provisions of
this Act:

(iii)the limit of time within which the power may be exercised.

© 1894 Crown Copyright

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