MERCHANT SHIPPING ACT, 2007

Section 397: Interim payment

2007Section 397 of 445Federal Republic of Nigeria

(1)
The court may, by an interim decision, order that a salvor be paid on account, such amount as seems fair and just and on such terms including terms as to security where appropriate, as may be fair and just according to the circumstances of the case.
(2)
Where an interim payment is made under subsection (1) of this section, the security provided under section 397 of this Act shall be reduced accordingly.

Cite this section

Section 397, MERCHANT SHIPPING ACT, 2007 (2007).

https://repo.podus.ai/laws/merchant-shipping-act-2007/section/397/