Malaysia legislation
Section 48
Section 48
Where a ship is subject to a registered mortgage—
(a)
except so far as may be necessary for making the ship available as a security for the mortgage debt, the mortgagee shall not by reason of the mortgage be treated as owner of the ship; and
(b)
the mortgagor shall be treated as not having ceased to be owner of the ship.
Transmission of mortgage by operation of law.