Section 30Part 2 — REGISTRATION OF SHIPS
Transfer of rights and obligations of charterer under the charter by demise
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30. (1) Where a ship is registered under section 27(1) and the charterer transfers the charterer’s rights and obligations under obligations of the charter by demise to another person so that the charterer is no longer under a contractual obligation to the owner of the ship in respect of the operation, management and control of the ship, the registration shall cease upon such transfer unless —
the transferee is qualified to own a Cayman Islands ship;
prior to the execution of the transfer, the transferee, or in the case of a body corporate, the person authorised by this Act to make declarations on behalf of the body corporate, makes and signs a declaration referring to the ship and containing a statement — Section 31 Merchant Shipping Act, 2024 Page 40 Act 1 of 2024 c
of the qualification of the transferee to own a Cayman Islands ship; or constitution and business thereof as prove it to be qualified to own a Cayman Islands ship; and
if the transferee is a body corporate, of such circumstances of the
a certified copy of the transfer executed by the charterer in favour of the transferee is produced to the Registrar of Shipping.
In subsection (1), the word “transferee” means the person to whom the charterer has transferred the charterer’s rights and obligations under the charter by demise.