Discharge of Mortgage

The purpose of this page is to provide an outline of the mortgage discharge requirements. Full details can be found in section 44 of the Shipping Registration Act 1981 and Shipping Registration Regulation 28.

Lodgement

Within 14 days of the discharge of a registered mortgage, evidence of the discharge should be lodged with the Registrar. The evidence required is:

a memorandum of discharge endorsed on or firmly affixed to the original registered mortgage instrument, and
the lodgement fee.

However, the Registrar may allow an extension of time in special circumstances. An extension fee is payable.

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Alternative evidence of discharge

If for any reason the original registered mortgage instrument with memorandum of discharge cannot be lodged, a statutory declaration can be lodged instead. The statutory declaration must be signed by each mortgagee and state the following information:

the name and official number of the ship
the name and address of each mortgagor
the name and address of each mortgagee
the date of the mortgage
the date and time of entry of particulars of the mortgage in the Register
the date of discharge of the mortgage
the reason why the instrument of mortgage cannot be lodged with the Registrar.

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Return of registered documents

After registration, the mortgage instrument and memorandum, or the statutory declaration, are returned to the lodging party. The documents will bear an official stamp showing that the discharge has been registered.

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Fees

The GST does not apply to services supplied by the Shipping Registration Office

The lodgement fee $82.
The extension fee $82.

Cheques should be made payable to: AUSTRALIAN MARITIME SAFETY AUTHORITY

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last updated: 22 June 2000