Provision for case where mortgagee or encumbrancee refuses to join in proceedings on default
142A Provision for case where mortgagee or encumbrancee refuses to join in proceedings on default
Where two or more persons are registered as mortgagees or encumbrancees under the same mortgage or encumbrance, and such default has been made in payment of any money due under the mortgage or encumbrance or in the performance of any covenant in the said mortgage or encumbrance expressed or implied as entitles the mortgagees or encumbrancees to exercise any of their rights or remedies under this
Act or under the mortgage or encumbrance, and any such mortgagee or encumbrancee fails or refuses to join in giving any notice, making any application or doing any other act or thing for the purpose of enforcing any of the said rights or remedies, the Court may, on the application by originating summons of any other mortgagee or encumbrancee and on any terms and conditions which it thinks just—
appoint any one of such mortgagees or encumbrancees or any other person to exercise on behalf of the mortgagees or encumbrancees such of the said rights or remedies as the Court thinks proper;
give any directions as to the mode of exercising the said rights or remedies and as to any other matters incidental thereto.
Any document executed by any person so appointed shall, for the purposes of this Act, but subject to the terms of the order, have the like effect as if executed by the mortgagees or encumbrancees.
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