- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
10(1)Where—
(a)a registered estate continues to be subject to a charge notwithstanding the registration of a person under this Schedule as the proprietor, and
(b)the charge affects property other than the estate,
the proprietor of the estate may require the chargee to apportion the amount secured by the charge at that time between the estate and the other property on the basis of their respective values.
(2)The person requiring the apportionment is entitled to a discharge of his estate from the charge on payment of—
(a)the amount apportioned to the estate, and
(b)the costs incurred by the chargee as a result of the apportionment.
(3)On a discharge under this paragraph, the liability of the chargor to the chargee is reduced by the amount apportioned to the estate.
(4)Rules may make provision about apportionment under this paragraph, in particular, provision about—
(a)procedure,
(b)valuation,
(c)calculation of costs payable under sub-paragraph (2)(b), and
(d)payment of the costs of the chargor.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: