186 Exclusion of liability

186  Exclusion of liability

(1)     Subject to subsection (3) below, the owner of a United Kingdom ship shall not be liable for any loss or damage in the following cases, namely—

(a)     where any property on board the ship is lost or damaged by reason of fire on board the ship; or

(b)     where any gold, silver, watches, jewels or precious stones on board the ship are lost or damaged by reason of theft,

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