Sch 1 (National Credit Code), s 46
In forceMortgages and continuing credit contracts
Volume 1Chapters 1 to 6 (sections 1 to 322)
Chapter 6Compliance and enforcement
46 Mortgages and continuing credit contracts
(1)
A provision in a mortgage to the effect that goods supplied from time to time under a continuing credit contract are subject to the mortgage is void.
(2)
However, this section does not apply to a provision in a mortgage relating to specified goods securing payment of a debt under a continuing credit contract.
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