Sri Lanka Consolidated Acts

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Merchant Shipping Act (No. 52 of 1971) - Sect 73

Requisites for certificates of mortgage and sale

73. 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: -
(a) the name of the person by whom the power mentioned in the certificate is to be exercised;
(b) in the case of a mortgage, the maximum amount of charge to be created, if it is intended to fix any such maximum;
(c) 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;
(d) 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; and
(e) the limit of time within which the power may be exercised.


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