70. On receipt of such an application for transfer the Secretary of State shall, if he is satisfied that the vessel is eligible for registry as a British fishing vessel and that it is marked with the Port Letters and Number specified on the application:—
(a)allocate to the vessel an RSS number,
(b)register the vessel with those Port Letters and Number and that RSS number, and
(c)register any subsisting mortgages on the vessel which, immediately before the registry of the vessel was transferred under this Part of these Regulations, were registered in respect of it in the Part I register or the Scottish register as the case may be, if more than one in the order in which they were registered in that register.