Section 14
[1)
Subject to this paragraph, a mortgage entered in the Register shall have priority over any other mortgage of or charge on that aircraft, other than another mortgage entered in the Register:
Provided that mortgages made before the commencement of this Order, whether entered in the Register or not, shall up to such commencement have the same priority as they would have had if this Order had not been made.
(2)
Subject to sub-paragraphs (3) to (5), where two or more mortgages have been entered in the Register, those mortgages shall as between themselves have priority according to the times at which they were respectively entered in the
Register:
Provided that where a priority notice has been entered in the Register and the contemplated mortgage referred to therein was made and entered in the Register within 14 days thereafter that mortgage shall be deemed to have priority from the time when the priority notice was registered.
(3)
In reckoning the period of 14 days under sub-paragraph (2), there shall be excluded Fridays, Sundays and public holidays.
(4)
The priorities provided for by this paragraph shall have effect notwithstanding any express, implied or constructive notice affecting the mortgagee.
(5)
Nothing in this paragraph shall be construed as gtvmg a registered mortgage any priority over any possessory lien in respect of work done on the aircraft, whether before or after the making or registration of the mortgage, on the 1473
BRUNEI DARUSSALAM GOVERNMENT GAZETTE express or implied authority of any person lawfully entitled to possession of the aircraft or over any right to detain the aircraft under any law.
Application of Bills of Sale Act and registration of charges provisions of Companies Act.