Prospective
(1)A secured creditor who, by virtue of section 68(1), is entitled to sell corporeal property is entitled to let all or any of that property.
(2)In letting property by virtue of subsection (1), the secured creditor must take all reasonable steps to ensure that the income obtained is the best reasonably obtainable.
(3)Any rental income obtained by virtue of subsection (1) is to be held in trust by the secured creditor until applied under section 77.
(4)The provider and the secured creditor may agree, whether before or after the pledge becomes enforceable by virtue of section 64(2), that subsection (1) is not to apply in relation to the corporeal property or some part of it.
(5)Any such agreement must be in writing.
Commencement Information
I1S. 70 not in force at Royal Assent, see s. 121(2)