69Position of mortgagee

69 Position of mortgagee (1) Where pastoral land has been mortgaged and the mortgagee enters into possession of the land, the mortgagee may, unless the lease is sooner forfeited, remain in possession for the unexpired period of the lease and while in possession is subject to the conditions of the lease as if the mortgagee were the lessee under the lease. Pastoral Land Act 1992 48 (2) The fact that the mortgagee or some person by the mortgagee's authority occupies or uses a part of the mortgaged land is prima facie evidence that the mortgagee has entered into possession of the land under the mortgage. (3) A mortgagee shall, within a period of 28 days after entering into possession of pastoral land, notify the Minister in writing of that fact. (4) Unless the Minister has been notified in accordance with subsection (3), any notice under this Act given to the lessee after the expiration of the period referred to in that subsection shall be deemed to have been duly given to the mortgagee.