64Mortgages—exemptions from Code

64 Mortgages—exemptions from Code

(1) The Code does not apply to the following mortgages: (a) a mortgage relating to perishable goods, livestock, primary produce or food stuffs; (b) a banker’s right to combine accounts; (c) a lien or charge arising by operation of any Act or law or by custom. (2) However, sections 16 and 17 of the Code (relating to disclosures) apply in respect of a mortgage mentioned in paragraph (1)(a). (3) Section 91 of the Code does not apply to any mortgage relating to goods that are lawfully in the possession of the credit provider.

Note: This regulation is made under subsection 7(3) of the Code.