Commonwealth Consolidated Acts

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SHIPPING REGISTRATION ACT 1981 - SECT 39

Priority of mortgages

                   Where 2 or more mortgages are registered in respect of the same ship or share in a ship, the priority among the mortgagees is in accordance with the order of registration of the mortgages, irrespective of the dates upon which they were made or executed and notwithstanding any express, implied or constructive notice.



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