Article 210. The subject of the mortgage of a vessel of the Merchant Shipping Act
1. Unless otherwise provided by the contract, the mortgage of the vessel extends to the accessories of the vessel belonging to the same owner as the vessel, as well as to insurance payments under the contract of marine insurance of the vessel on the terms of liability for loss and damage to the vessel.
The mortgage of the vessel does not apply to freight.
2. Unless otherwise provided by the contract, the mortgage of the vessel under construction applies to materials and equipment that are intended for its construction and are located at the location of the shipbuilding organization and are clearly identified by labeling or otherwise, as well as to insurance payments under the marine insurance contract of the vessel under construction on the terms of liability for loss and damage to the vessel under construction.
3. In the event that the subject of the mortgage is two or more ships or ships under construction, in the absence of an agreement on the amount of collateral for each ship individually, such ships serve as collateral for the obligation in full.
The Law of the Republic of Kazakhstan dated January 17, 2002 No. 284.
This Law defines the legal, organizational, economic and international foundations of public administration in the field of merchant shipping and regulates relations related to the transportation of passengers, baggage and cargo, ensuring safety in maritime transport and environmental protection.
President
Republic of Kazakhstan
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