HL Deb 24 May 1921 vol 45 cc340-1

Clause 3:

Mode of mortgaging freeholds.

3.—(1)

(5) Without prejudice to the provisions of this Act respecting legal and equitable powers, every power to mortgage an estate in fee simple shall he construed as a power to mortgage the same for a term of years absolute, without impeachment for waste.

Clause 4:

Mode of mortgaging leaseholds.

4.—(1)

(5) Without prejudice to the provisions of this Act respecting legal and equitable powers, every power to mortgage a term of years absolute by way of assignment shall be construed as a power to mortgage the same by subdemise for a term of years absolute.

THE LORD CHANCELLOR

The Amendments in my name to the Second Schedule are drafting.

Amendments moved—

Page 190, line 25, after ("mortgage") insert ("or to lend money on mortgage of")

Page 190, line 27, at end insert ("or to lend on such security").

Page 191, line 22, after ("mortgage") insert ("or to lend money on mortgage of")

Page 191, line 25, at end insert ("or to lend on such security").—(The Lord Chancellor.)

On Question, Amendments agreed to,