Commonwealth Numbered Acts

SHIPPING REGISTRATION ACT 1981 No. 8, 1981 - SECT 39

39. 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.