7.1 Statutory registered priority

7.1.1 The significance of registration in relation to priority has already been touched upon in Chapter 2.1 There are separate statutory systems of registration: asset registration pursuant to the Merchant Shipping Act 1995 which goes directly to priority; and debtor registration pursuant to the Companies Act 2006 (in respect of persons to whom that regime applies). These have been addressed in Chapter 6. In this chapter some further priority issues will be looked at, including the effect of the two registration regimes. The focus of this chapter is the particular issues which arise in relation to mortgages of UK-registered ships. Reference should be made to Chapter 14 for the Order of Priorities when a ship, whether UK-registered or otherwise, is sold pursuant to an Order for Sale in an Admiralty action in rem.2 For an understanding of the position generally, reference should be made to other works.3 The position in relation to priority issues affecting security over personal property more widely, outside the shipping context, is complex and in some respects unsatisfactory.4