Article 218. Grounds for the compulsory sale of a vessel or a vessel under construction of the Merchant Shipping Act
If the mortgagor fails to fulfill the obligation to pay the debt, the mortgaged vessel or the vessel under construction may be sold on the basis of a court decision at the location of the arrested vessel or the arrested vessel under construction.
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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