64.
| (1) A registered ship, or a share therein, may be made a security for a loan or other valuable consideration, and the instrument creating such security (in this Chapter referred to as a ' mortgage ') shall be in the prescribed form, or as near thereto as circumstances permit. |
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| (2) On production to him of an instrument of mortgage, the Registrar of the ship's port of registry shall-
| | (a) record such instrument in the register book; | | |
| | (b) when there are more mortgages than one, record them in the order in time in which they are produced to him for that purpose; | | |
| | (c) by memorandum under his hand notify on each mortgage that it has been recorded by him, stating the day, date and hour of that record. | | |
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Sri Lanka Consolidated Acts