Mortgage of trustee (Aboriginal) lease
188 Mortgage of trustee (Aboriginal) lease
Subject to subsection (2), a lessee of Aboriginal trust land may, under the Land Act, chapter 6, part 4, division 4, mortgage a trustee (Aboriginal) lease.
For mortgaging a trustee (Aboriginal) lease—
the Land Act, chapter 6, part 4, division 4, applies—
as if the reference in section 345(2) to the Minister were a reference to the trustee; and
as if section 346(1) provided that the mortgagee may offer the lease for sale by public auction or may sell the lease by private contract; and
as if the reference in section 346(3) to a person qualified under the Land Act to hold the lease were a reference to a person entitled under this Act to a grant of the lease; and
as if section 347 were omitted; and
section 182 applies as if the reference in section 182(1) to Aboriginal land were a reference to Aboriginal trust land.
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