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(1)Where a mortgagor under a controlled mortgage has paid on account of mortgage interest any amount which, by virtue of Schedule 19 to this Act, is irrecoverable by the mortgagee, the mortgagor who paid it shall be entitled to recover that amount from the mortgagee who received it or his personal representatives.
(2)Any amount which a mortgagor is entitled to recover under subsection (1) above may, without prejudice to any other method of recovery, be deducted by the mortgagor from any mortgage interest payable by him to the mortgagee.
(3)No amount which a mortgagor is entitled to recover under subsection (1) above shall be recoverable at any time after the expiry of 2 years from the date of payment.
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