11
In forceMortgagors of old system land to hold new access licences
11 Mortgagors of old system land to hold new access licences
(1)
This clause applies to an entitlement with respect to land (other than land under the provisions of the Real Property Act 1900) that, on the appointed day, is subject to a mortgage that is registered in the General Register of Deeds (the original mortgage).
(2)
The entitlement is taken to have been replaced by an access licence held by the person holding the right to redeem the original mortgage.
This Act’s bill:Explanatory memorandumSecond reading speech
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