Power to vary provisions of an incumbrance and to charge by way of additional security
70 Power to vary provisions of an incumbrance and to charge by way of additional security
Where an incumbrance affects any part of the settled land, the tenant for life may, with the consent of the incumbrancer, and with the consent of the trustees of the settlement or order of the Court, vary the rate of interest charged and any of the other provisions of the instrument (if any) creating the incumbrance, and with the like consents or with the like consent and order charge that incumbrance on any part of the settled land, whether already charged therewith or not, or on all or any part of the capital money or securities representing capital money subject or to become subject to the settlement, by way of additional security, or of consolidation of securities, and by mortgage or otherwise make provision accordingly.
Incumbrance in this section includes any annual sum payable during a life or lives or during a term of years absolute or determinable, but in such case an additional security shall be effected so as only to create a charge or security similar to the original charge or security.
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