Malaysia legislation
Section 30
Section 30
Rights of owner and mortgagee
(1)
Subject to any rights and powers appearing in the Yachts
Register to be vested in any other person, the owner of a Langkawi yacht or a share in the yacht shall have the power to absolutely dispose of the yacht or the share in the yacht, provided that the disposal is made in accordance with this Act.
(2)
Subsection (1) shall not imply that any interests arising under a contract or other equitable interests cannot subsist in relation to a Langkawi yacht or a share in the yacht, and such interests may be enforced by or against the owner or mortgagee in respect of his interest in the yacht or the share in the yacht in the same manner as in respect of any personal property.
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(3)
The owner of a Langkawi yacht or a share in the yacht shall have the power to give effectual receipts for any money paid or advanced by way of consideration on any disposal of the yacht or the share in the yacht.