1988 Ed.]
Conveyancing and Property
[CAP. 219
27
(4) Where the mortgage is contained in more than one deed, a receipt may, for the purposes of this section, refer to all those deeds and be written on or annexed to one of those deeds.
(5) A receipt under this section need not be under seal.
(6) This section applies to the discharge of any mortgage by deed, whether that deed was executed before or after the commencement of this section, but only to discharges effected after the commencement of this section.
[cf. U.K. 1925 c. 20, s. 115]
Floating charges
56A. (1) A floating charge over property (whether or not it purports to restrict the chargor's right to alienate the property) shall not affect any estate or interest in any land, being part of the property, acquired by any other person before crystallisation of the floating charge, whether or not the other person had actual or constructive notice of the floating charge or of any such purported restriction.
(2) This section applies to any floating charge granted on or after 1 November 1984.
57. [Amendment incorporated]
PART VI
RELIEF AGAINST FORFEITURE
(Added, 31 of 1988, s. 20)
Restrictions on and relief against forfeiture of leases
and under-leases
58. (1) A right of re-entry or forfeiture under any proviso or stipulation in a lease for a breach of any covenant or condition in the lease shall not be enforceable, by action or otherwise, unless and until the lessor serves on the lessee a notice-
(a) specifying the particular breach complained of; and
(b) if the breach is capable of remedy, requiring the lessee to remedy the
breach; and
(c) specifying the compensation, if any, which the lessor requires in
respect of the breach,
and the lessee fails, within a reasonable time thereafter, to remedy the breach, if it is capable of remedy, and to make reasonable compensation in money, to the satisfaction of the lessor, for the breach.
(2) Where a lessor is proceeding, by action or otherwise, to enforce such a right of re-entry or forfeiture, the lessee may, in the lessor's action, if any, or in any action brought by himself, apply to the court for relief; and the court may grant or refuse relief, as the court, having regard to the proceedings and conduct of the parties under the foregoing provisions of this section, and to all the other
1988 Ed.]
Conveyancing and Property
[CAP. 219
27
(4) Where the mortgage is contained in more than one deed, a receipt may, for the purposes of this section, refer to all those deeds and be written on or annexed to one of those deeds.
(5) A receipt under this section need not be under seal.
(6) This section applies to the discharge of any mortgage by deed, whether that deed was executed before or after the commencement of this section, but only to discharges effected after the commencement of this section.
[cf. U.K. 1925 c. 20, s. 115]
Floating charges
56A. (1) A floating charge over property (whether or not it purports to restrict the chargor's right to alienate the property) shall not affect any estate or interest in any land, being part of the property, acquired by any other person before crystallisation of the floating charge, whether or not the other person had actual or constructive notice of the floating charge or of any such purported restriction.
(2) This section applies to any floating charge granted on or after 1 November 1984.
57. [Amendment incorporated]
PART VI
RELIEF AGAINST FORFEITURE
(Added, 31 of 1988, s. 20)
Restrictions on and relief against forfeiture of leases
and under-leases
58. (1) A right of re-entry or forfeiture under any proviso or stipulation in a lease for a breach of any covenant or condition in the lease shall not be enforceable, by action or otherwise, unless and until the lessor serves on the lessee a notice-
(a) specifying the particular breach complained of; and
(b) if the breach is capable of remedy, requiring the lessee to remedy the
breach; and
(c) specifying the compensation, if any, which the lessor requires in
respect of the breach,
and the lessee fails, within a reasonable time thereafter, to remedy the breach, if it is capable of remedy, and to make reasonable compensation in money, to the satisfaction of the lessor, for the breach.
(2) Where a lessor is proceeding, by action or otherwise, to enforce such a right of re-entry or forfeiture, the lessee may, in the lessor's action, if any, or in any action brought by himself, apply to the court for relief; and the court may grant or refuse relief, as the court, having regard to the proceedings and conduct of the parties under the foregoing provisions of this section, and to all the other
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