s.70Transmission of property in ship
70
Section 70Part 4 — PROPRIETARY INTERESTS IN REGISTERED SHIPS

Transmission of property in ship

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Where the property in a registered ship or share in the ship is transmitted to a person by any lawful means other than a transfer under section 67 and a majority interest remains in the ownership of a person qualified to be an owner of a Cayman Islands ship —
that person to whom the property is transmitted shall—
authenticate the transmission by making and signing a declaration (in this Act called a "declaration of transmission") which identifies the ship and contains the several statements required to be contained in a declaration of transfer as provided in this Act, or as near thereto as circumstances permit; and
provide a statement of the manner in which the property has been transmitted;
if the transmission is consequent on bankruptcy, the declaration of transmission shall be accompanied by such evidence as is acceptable by the Court as proof of the title of persons claiming under a bankruptcy;
if the transmission is consequent on death, the declaration of transmission shall be accompanied by the instrument of representation, or an official extract from the instrument of representation; and
if the transmission was consequent upon an order of a court, a copy of the order or judgment of that court.
The Registrar of Shipping, on receipt of the declaration of transmission so accompanied, and upon being satisfied that the ship remains entitled to be registered in the Islands, shall enter in the register —
the name of the person entitled under the transmission as owner of the ship or share the property in which has been transmitted; and,
where there is more than one such person, the names of all those persons in the register.
The persons referred to in subsection (2)(b) , however numerous, shall, for the purpose of this Act with respect to the number of persons entitled to be registered as owners, be considered as one person.

Defined Terms

declaration of transmission

Cross References