Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Where the interest of a mortgagee in a mortgage of a ship or of a share in a ship is transmitted to a person by any lawful means other than by a transfer under section 42, a declaration of transmission made by that person in accordance with the regulations, together with such evidence of the transmission as is prescribed, shall be lodged by that person with the Registrar within 14 days of that interest being transmitted to that person or within such longer period as the Registrar, in special circumstances, allows.
(2) The Registrar shall, as soon as practicable after the lodgment by a person of a declaration of transmission of the interest of a mortgagee in a mortgage of a ship or a share in a ship, together with such evidence of the transmission as is prescribed, enter in the Register the name of that person as mortgagee of the ship or share.
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