Section 69: Rights of ship builder and ship repairer

(1)
Notwithstanding any other law relating to the priority of liens, the lien or right of retention which-
(a) a shipbuilder may have to secure claims for the building of the ship;
(b)
a ship repairer may have to secure claims for the repairs of the ship, shall be postponed to all maritime liens set out in section 67 of this Act, but may be preferred to registered mortgages or preferential rights as long as the ship remains in his possession.
(2)
For the purposes of this Act the liens or right of retention referred to in subsection (1) of this section is extinguished where the ship builder or ship repairer ceases to be in possession of the ship.