Chapter 4 Registration of Mortgage and Leasehold
Article 44
In the case of registering the establishment of a mortgage, the amount of the right of credit shall be depicted in the application form. The time for liquidation and interests or collateral terms or other special agreements specified therein, if any, shall be depicted in the form, too.
Article 45
In the case of registering the establishment of a mortgage before which a registration of mortgage has been made, the registered amount of the former mortgage shall be indicated in the application form.
Article 46
In the case of registering the establishment of a mortgage of which the mortgagor is not the obligor, the name, age, domicile of origin, address and residence of the obligor shall be depicted in the application form.
Article 47
In the case of registering the establishment of a mortgage of which the guarantee of a right of credit not of a monetary character, the assessed value of the right shall be indicated in the application form.
Article 48
The application for registering the right of credit jointly guaranteed by multiple ships shall require an enumeration of the joint guarantee, elaborating every part of such guarantee for every ship, which shall be indorsed by the applicant.
If the enumeration of the joint guarantee is listed over one page, one of the applicants shall sign at the seam of two pages.
Article 49
In case of registering the transfer of a mortgage owing to the assignment or liquidation of part of the right of credit, the amount of the right assigned or liquidated shall be recorded in the application form.
Article 50
In case of registering the mortgage of a ship newly constructed, the information indicated hereunder shall be enumerate in the form of the application, which shall be submitted to the Shipping Administration Authority at the place of construction:
1. Type of the ship;
2. The planned length, width and depth;
3. The planned capacity;
4. The place of construction;
5. Name, address and residence of the shipbuilder; or, if it is a juridical person, the name and office of such person;
6. Cause and date of registration;
7. Purpose of registration;
8. The authority in which the registration is made;
9. Date of application;
10. Name, age, domicile of origin, address and residence of the applicant; or, if it is a juridical person, the name and office of such person; and
11. Name, age, domicile of origin, address and residence of the proxy making the application.
The documents enumerated in Item 1 through Item 5 of the previous paragraph shall be attached with the documentary proof issued by the shipbuilder.
Article 51
In case of registering the establishment of leasehold, the amount of rental shall be depicted in the application form; and, if there are tenure, time for paying rental, sublease or any other special agreement specified therein, they shall be enumerated in the form, too.
In case of registering a sublease, of which the permission has not been registered, the letter of consent issued by the original leaser shall be required in addition to those matters enumerated in the previous paragraph.
Article 52
The application, made for registering the proprietorship of a ship having been mortgaged during construction and her port of registry not under the jurisdiction of the competent authority of registering the proprietorship, shall attach the photocopy of the registration of such mortgage and the letter of consent of the mortgagee.