s.35Registration during the transfer of ownership
35
Section 35Part 2 — REGISTRATION OF SHIPS

Registration during the transfer of ownership

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35. (1) This section applies where —
there is in existence a written contract for the transfer of a ship or a share in a ship;
under the terms of that contract, the owner has agreed —
to transfer the ship or a share in the ship to a person qualified to own a Cayman Islands ship and who intends to register the ship in the Islands; and stating that the ship is free from registered mortgages; and
to provide the transferee with a bill of sale of the ship and a certificate
upon the execution of the bill of sale, the ship will be entitled to be registered in the Islands provided the requirements of section 5 are satisfied.
Where this section applies, the Registrar of Shipping may, if satisfied that it is proper for the Registrar of Shipping to do so —
enter in the register the particulars referred to in section 18 subject to the modifications set out in subsection (3); and Merchant Shipping Act, 2024 Section 35 c Act 1 of 2024 Page 43
issue to the transferee a certificate of registry which is valid for a period of twenty-one days from its date of issue.
The modifications referred to in subsection (2)(a), are that —
the name and other particulars required to be entered under any regulations which may be made relating to the registration of ships shall be the name and other particulars of the transferee of the ship or of the share therein; and
there shall also be entered a note that the registration is conditional upon a bill of sale transferring the ship or the share in the ship to the person or persons named in the register being produced to the Registrar of Shipping within twenty-one days.
The Registrar of Shipping shall only be satisfied that it is proper for the Registrar of Shipping to make the entry in the register and issue a certificate of registry under subsection (3) if — certificate stating that the ship is free from registered mortgages; and country in which it is then registered;
sections 13, 14, 15 and 17 and section 18, as modified by subsection (3), have been complied with;
the transferee, or in the case of a body corporate, the person authorised by this Act to make declarations on behalf of the body corporate, has made and signed a declaration, referring to the ship as described in the surveyor’s certificate issued under section 13, and containing the following particulars —
if the transferee is a person qualified to own a Cayman Islands ship, a statement of the qualifications of the transferee to own a Cayman Islands ship, or in the case of a body corporate, of such circumstances of the constitution and the business of the body corporate as prove it to be qualified to own a Cayman Islands ship; of the ship or a share in the ship;
if the ship is a foreign ship, a statement of the ship’s foreign name;
a statement that there is in existence a written contract for the transfer
a statement that the owner has agreed —
to transfer the ship or a share in the ship to the transferee;
to provide the transferee with a bill of sale of the ship and a
to procure the termination of the registration of the ship in the
a statement that, to the best of the transferee’s knowledge and belief, upon the execution of the bill of sale a majority interest in the ship will be owned by persons qualified to be owners of Cayman Islands ships, and the ship is otherwise entitled to be registered; Section 36 Merchant Shipping Act, 2024 Page 44 Act 1 of 2024 c
there is produced to the Registrar of Shipping a certified copy of the contract referred to in the declaration made under paragraph (b); and
in the case of a Cayman Islands ship, the existing certificate of registry is delivered to the Registrar of Shipping upon the issue of the certificate of registry under this section.
Where a ship is registered under subsection (2), the transferee shall, within twenty-one days after the date of issue of the certificate of registry issued under subsection (2)(b), deliver to the Registrar of Shipping —
a declaration made in accordance with section 16; and
a bill of sale executed under the contract, a certified copy of which has been produced to the Registrar of Shipping under subsection (4)(c), and thereupon the Registrar of Shipping shall make the entries in the register required by section 18 and issue a certificate of registry under section 21.
If the transferee does not comply with the requirements of subsection (5), the registration of the ship shall automatically terminate at the expiration of the certificate of registry issued under subsection (2)(b) and the certificate of registry and any certificate issued in respect of the ship under this Act shall be delivered to the Registrar of Shipping.

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