sec.149Freeholding of leases over which mortgages held by the chief executive

### sec.149 Freeholding of leases over which mortgages held by the chief executive This section applies to a freeholding lease that is— in force under this Act, the Housing (Freeholding of Land) Act 1957 or the Land Act 1994 ; and subject to a mortgage in favour of the chief executive on behalf of the State (the chief executive’s mortgage ). The chief executive may, at any time, pay the purchasing price and any other fees or expenses required for the issuing of a deed of grant in respect of the freeholding lease. If a payment under subsection (2) is made— the lessee is taken to have fulfilled all the conditions of the freeholding lease and any related contract of sale; and the amount of the payment is added to the amount owing under the chief executive’s mortgage. Subsections (2) and (3) apply despite any other Act. For subsection (1)(a), a lease issued under the repealed Act that is in force is taken to be in force under this Act. (sec.149-ssec.1) This section applies to a freeholding lease that is— in force under this Act, the Housing (Freeholding of Land) Act 1957 or the Land Act 1994 ; and subject to a mortgage in favour of the chief executive on behalf of the State (the chief executive’s mortgage ). (sec.149-ssec.2) The chief executive may, at any time, pay the purchasing price and any other fees or expenses required for the issuing of a deed of grant in respect of the freeholding lease. (sec.149-ssec.3) If a payment under subsection (2) is made— the lessee is taken to have fulfilled all the conditions of the freeholding lease and any related contract of sale; and the amount of the payment is added to the amount owing under the chief executive’s mortgage. (sec.149-ssec.4) Subsections (2) and (3) apply despite any other Act. (sec.149-ssec.5) For subsection (1)(a), a lease issued under the repealed Act that is in force is taken to be in force under this Act. - (a) in force under this Act, the Housing (Freeholding of Land) Act 1957 or the Land Act 1994 ; and - (b) subject to a mortgage in favour of the chief executive on behalf of the State (the chief executive’s mortgage ). - (a) the lessee is taken to have fulfilled all the conditions of the freeholding lease and any related contract of sale; and - (b) the amount of the payment is added to the amount owing under the chief executive’s mortgage.