Agricultural Credit Act, 1978
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Effect of charging order. [1961, s. 9(4).] |
55.—A charge created under this Chapter shall be deemed to be a mortgage made by deed within the meaning of the Conveyancing Acts, 1881 to 1911, and the Corporation shall be the mortgagee for the purposes of those Acts and, accordingly, shall have all the powers conferred by those Acts on mortgagees under mortgages made by deed and a charge created under this Chapter shall, upon registration thereof, be deemed to be a registered charge within the meaning of the Registration of Title Act, 1964 , and the land to which the charge relates shall be deemed, for the purposes of section 39, to have been charged by the registered owner thereof in favour of the Corporation with the repayment of the amount of the charge and the payment of the interest. |