68.
| (1) Every registered mortgagee shall, subject to sub-section (2), have power-
| | (a) absolutely to dispose of the ship or share in respect of which he is registered; and | | |
| | (b) to give effectual receipts for the purchase money. | | |
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| (2) Where there are more persons than one registered as mortgagees of the same ship or share a subsequent mortgagee shall not, except under the order of a Court of competent jurisdiction, sell the ship or share without the concurrence of every prior mortgagee. |
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Sri Lanka Consolidated Acts