Chapter 1 General Principles
Article 1
When used in the present Law, the term "Ship" shall have the meaning as defined in The Law of Ships.
Article 2
The Shipping Administration Authority of the port of registry shall undertake to administrate the registration of a ship; however, the Shipping Administration Authority at the port of construction shall be the competent authority in charge of the registration of mortgage of the ship during construction.
Article 3
The preservation, establishment, transfer, alteration, restriction, disposition or extermination of the following rights of a ship shall be subject to registration:
1. Proprietorship,
2. Mortgage, and
3. Leasehold.
Article 4
Unless registered, any entry subject to registration shall not be valid against any third person.
Article 5
The provisions prescribed in the present Law shall not apply to small ships.