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The Bangladesh Merchant Shipping Ordinance, 1983

( Ordinance NO. XXVI Of 1983 )

Chapter 3

REGISTRATION

Rights of mortgagee
 
 
 
 
43. (1) A mortgagee under a registered mortgage shall be entitled to recover the amount due under the mortgage by appropriate proceeding in the High Court Division, and when passing a decree, or thereafter, the High Court Division may direct that the mortgaged ship or share be sold in execution of the decree.
 
 
(2) Subject to the provisions of sub-section (1), no mortgagee shall merely by virtue of the mortgage, be entitled to sell or otherwise dispose of the mortgaged ship or share.

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