sec.345Mortgagee in possession may sell

### sec.345 Mortgagee in possession may sell A mortgagee is entitled to sell a lease if— the lessee defaults under a mortgage; and the mortgagee has entered into possession of the mortgaged lease or is exercising a power of sale under the mortgage; and the mortgagee complies with this division. The mortgagee must notify the Minister within 28 days of entering into possession of the mortgaged lease. Maximum penalty—5 penalty units. (sec.345-ssec.1) A mortgagee is entitled to sell a lease if— the lessee defaults under a mortgage; and the mortgagee has entered into possession of the mortgaged lease or is exercising a power of sale under the mortgage; and the mortgagee complies with this division. (sec.345-ssec.2) The mortgagee must notify the Minister within 28 days of entering into possession of the mortgaged lease. Maximum penalty—5 penalty units. - (a) the lessee defaults under a mortgage; and - (b) the mortgagee has entered into possession of the mortgaged lease or is exercising a power of sale under the mortgage; and - (c) the mortgagee complies with this division.