Prohibitions

Where a mortgage document contains a “prohibition” against a transfer of ownership, termination of vessel registration, or the creation of further mortgages without the prior written consent of the original mortgagee, then Cayman will note such restrictions on the Register and will not deal with any of these matters unless the original mortgagee’s written consent is submitted or if Cayman is in receipt of a Court Order directing otherwise.

Please note however, that such prohibitions do not override Cayman’s right to delete a “non-compliant” vessel from its Register under section 8 of the Merchant Shipping Law, after the giving of proper notice as is required under this Law.