sec.240FSale by mortgagee instead of forfeiture

### sec.240F Sale by mortgagee instead of forfeiture After receiving a notice under section 235 (1) or 238 (3) , a mortgagee of a lease may apply, in writing, to the chief executive for permission to sell the lease. Section 235 is about forfeiture of a lease for outstanding amounts. Section 238 is about applying to the court for forfeiture. If the chief executive approves the sale of the lease by the mortgagee, the chief executive must give notice of the chief executive’s approval to the mortgagee and the lessee. After receiving the notice approving the sale, the mortgagee must sell the lease as a mortgagee in possession under chapter 6 , part 4 , division 4 . Chapter 6 , part 4 , division 4 is about registering dealings about mortgages. s 240F (prev s 244) amd 2007 No. 19 s 130 (1) – (4) renum and reloc 2007 No. 19 s 130 (5) amd 2010 No. 12 s 130 ; 2013 No. 23 s 352 sch 1 pt 1 ; 2019 No. 17 s 137 (sec.240F-ssec.1) After receiving a notice under section 235 (1) or 238 (3) , a mortgagee of a lease may apply, in writing, to the chief executive for permission to sell the lease. Section 235 is about forfeiture of a lease for outstanding amounts. Section 238 is about applying to the court for forfeiture. (sec.240F-ssec.2) If the chief executive approves the sale of the lease by the mortgagee, the chief executive must give notice of the chief executive’s approval to the mortgagee and the lessee. (sec.240F-ssec.3) After receiving the notice approving the sale, the mortgagee must sell the lease as a mortgagee in possession under chapter 6 , part 4 , division 4 . Chapter 6 , part 4 , division 4 is about registering dealings about mortgages.