S.L. 234.41 Art. 11Presumption.

The non-issue, expiry, non renewal or cancellation of a licence issued in terms of these regulations shall only affect the rights and privileges of an organisation ensuing from it being a shipping organisation in terms of the Act, so however that it shall not affect the title of an organisation to any ship or any bareboat charter or other contractual arrangement nor shall it affect any encumbrance, including any registered mortgage over such ship, or any legal rights or powers of a shipping organisation or any holder of a mortgage thereon to deal with such ship or mortgage.