Protection of registered mortgageesU.K.
10U.K.Where a ship or share is subject to a registered mortgage then—
(a)except so far as may be necessary for making the ship or share available as a security for the mortgage debt, the mortgagee shall not by reason of the mortgage be treated as owner of the ship or share; and
(b)the mortgagor shall be treated as not having ceased to be owner of the ship or share.