Section 23(3) in The Merchant Shipping (Wrecks and Salvage) Rules, 1974
(3)Where the receiver has disposed of any wreck he shall settle the salvor's claim in accordance with the award from within the sale proceeds of the wreck and obtain a receipt from the salvor in token of his having received the amount in full and final settlement of his claim, before effecting payment of balance sale proceeds to the owner.
