s 157 Immediate sale of wreck by receiver in certain cases
157.—(1) A receiver may at any time sell any wreck in his or her custody, if in his or her opinion —(a)
it is under the value of $1,000;
(b)
it is so much damaged or of so perishable a nature that it cannot with advantage be kept; or
(c)
it is not of sufficient value to pay for warehousing.
(2) The proceeds of the sale must, after defraying the expenses thereof, be held by the receiver for the same purposes and subject to the same claims, rights and liabilities as if the wreck had remained unsold.
Read this section in the full act → · Open PART 9 →
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗
Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
The Singapore legislation on this platform is subject to copyright of the Singapore Government and is used/reproduced for the purposes of this platform with the permission of the Attorney-General's Chambers. Users of this platform may check Singapore Statutes Online for the latest version of the Singapore legislation.
