← Langkawi International Yacht Registry Act 2003

Langkawi International Yacht Registry Act 2003 s 34

s 34 Mortgage of yacht or share

(1) A Langkawi yacht or a share in the yacht may be made a security for the repayment of a loan or the discharge of any other obligation. (2) The instrument creating any such security referred to in this Chapter as a “mortgage” shall be in the prescribed form. (3) Where a mortgage executed in accordance with subsection (2) is produced to the Director General, he shall register the mortgage in the manner prescribed. (4) For the purposes of subsection (1), “Langkawi yacht” includes a yacht under construction.

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Find Act 630 on lom.agc.gov.my ↗

Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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