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Loans secured by charging order.
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6.—(1) Where a person desirous of obtaining an advance under the last preceding section is not in a position to secure the repayment of the advance in accordance with the provisions of that section owing to defective title or the insufficiency of his estate or interest in the site or of the value of that estate or interest, and the other persons whose concurrence is necessary in order to remedy or remove the defect or insufficiency are unable or unwilling to concur in securing the advance, he may apply to a Judge of the High Court for an order charging the ownership of the site and any interest therein with the repayment of the advance with interest.
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(2) On any such application the Judge may direct such inquiries and investigations as he thinks proper for the purpose of ascertaining the title to the ownership of the site and the values of the several estates and interests therein, and if after giving to all persons interested an opportunity of being heard it appears to him that the advance would enure to the benefit of other estates or interests as well as the estate or interest of the applicant, and that all those estates and interests afford together sufficient security for the advance he may make an order charging all such estates and interests and every of them with the repayment of the advance with interest, and may by the same or any other order apportion the advance, interest, and instalments as between the several estates and interests charged in proportion to the benefit accruing from the advance to the owners of those estates and interests respectively.
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(3) Subject to the limitations imposed by the last preceding section the amount of the advance, the rate of interest, and the term and method of repayment shall be at the discretion of the Judge.
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(4) Provision may be made by the charging order for ensuring that the advance will be applied in defraying the expenses of the work of rebuilding or restoration and for any other matters for which, in the opinion of the Judge, provision ought to be made.
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(5) A charging order shall be effectual to charge every estate and interest expressed to be charged with the repayment to the Corporation of the advance with interest in the manner therein provided as a first charge in priority to all charges and incumbrances thereon.
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(6) Where the Judge makes an apportionment order he may, if he thinks fit, declare that the whole of the principal money, interest, and instalments for the time being payable under the charging order shall, in the first instance, be paid by and recoverable from the owners for the time being of any estate or interest in the site which he may specify, and may provide for contribution and adjustment of rights and liabilities as between the several estates and interests charged and the several owners thereof for the time being in such manner as appears to him to be equitable.
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(7) The Judge shall have power to apportion the liability for any charge or incumbrance which affects any other lands, estates or interests as well as the lands, estates, and interests charged or proposed to be charged under this section, and to provide for such contribution as between the lands, estates and interests liable, and such adjustments of rights and liabilities (including indemnities) in relation to the common liability as appear to him to be equitable.
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(8) The Judge shall have power to ascertain in such manner as he thinks proper what easements and rights (if any) affect or are attached to any lands, estate, or interest charged or proposed to be charged under this section and to define all or any of those easements and rights, and to hear and finally determine all questions and claims that may arise with respect to any of the easements or rights, or any actual or anticipated infringement or violation of the same and to stay proceedings in any other court in relation to any such infringement or violation.
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(9) For the purposes of this section the Judge shall have and may exercise all such powers and jurisdiction as are vested in or exercisable by the High Court or any division, court, or judge thereof, under any enactments or rules which are applied for the purposes aforesaid by rules made under this section.
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(10) The Judge may review, rescind, or vary any order made under this section, but no such order shall be subject to appeal and no proceedings before the Judge under this section shall be removed into or restrained or questioned by any court.
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(11) Arrangements may be made between the Chief Justice and the Irish Land Commission for the performance by officers of the Irish Land Commission in cases of urgency of any duties under this section which may be directed by the Chief Justice, and those duties shall be performed by those officers accordingly.
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(12) The Chief Justice may make rules for carrying the foregoing provisions of this section into effect, and may by any such rules regulate the practice and procedure under this section (including costs), and for that purpose may adapt any enactments or rules regulating practice and procedure in the High Court or any division or court thereof.
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(13) For enforcing a charging order made under this section the Corporation, in addition to any other powers and remedies in that behalf, shall have and may exercise all the powers and remedies which are conferred on mortgagees by the Conveyancing Acts, 1881 to 1911, and those Acts shall apply accordingly in like manner as if the order were a mortgage made by deed.
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(14) It shall be the duty of the Corporation to cause each charging order to be registered forthwith in a register to be kept for the purpose in the Registry of Deeds and such register shall be kept accordingly and registration therein shall be effected in such manner as may be prescribed by regulations made by the Chief Justice, and the registration of an order in accordance with these regulations shall be in substitution for registration under any enactments relating to registration, and the order and the charge thereby created shall be exempt from the provisions of any such enactments accordingly.
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The regulations made under this sub-section may—
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(a) provide for the register being open for inspection at all reasonable times, and for the issue of certificates as to orders registered, and as to entries with respect to any specified land, estate or interest;
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(b) prescribe (subject to the approval of the Minister for Finance) the fees which may be charged for inspection or for certificates, and the method in which fees are to be applied and accounted for;
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(c) provide for any other matters in respect of which, in the opinion of the Chief Justice, provision ought to be made.
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(15) The Judge referred to in this section shall be the Judge of the High Court to whom the duty of exercising jurisdiction under this section shall be assigned by the Chief Justice.
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