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51. Rights of mortgagee.- (1) A registered mortgagee of a ship or share hall be entitled to recover the amount due under the mortgage in the High Court, and when passing a decree or thereafter the High Court 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 such mortgagee shall merely by virtue of the mortgagee be entitled to sell or otherwise dispose of the mortgaged ship or share.

 

 

 

 

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