Vessels subject to mortgage in previous registry

Not later than the time of first registration at IMMARBE, whether provisional or permanent, the owners of vessels which are subject to registered mortgages in their previous foreign registry shall deliver evidence in the form of each mortgagee’s written consent to the transfer of the vessel from the previous Registry to IMMARBE and for the registration of such mortgages at IMMARBE. Every such document of consent shall be attested by a notary public. On the production of the prescribed instruments of Mortgage of a Vessel and the Deeds of Covenant or other contractual documents appended thereto, if available, those mortgages on being registered at IMMARBE, shall be recorded in the same order of precedence as was indicated in the previous foreign registry irrespective of whether or not they have been cancelled in the previous registry.