76Postponement of mortgages and encumbrances

76 Postponement of mortgages and encumbrances

(1)  *[Section 76 Subsection (1) amended by No. 21 of 1996, s. 19 ]*The priority between themselves of the mortgages or encumbrances appearing by the Register to affect any land may from time to time be varied by an instrument in an approved form registered under this Act.

(2)  [Section 76 Subsection (2) substituted by No. 36 of 2012, s. 27, Applied:13 Nov 2012] An instrument referred to in subsection (1) that postpones the priority of a mortgage or encumbrance must be executed by the registered proprietor of the mortgage or encumbrance that is postponed.