22KRepayment of advance secured by deed of charge

#### 22K Repayment of advance secured by deed of charge 22K Repayment of advance secured by deed of charge > > (1) Subject to subsection (5), the repayment of every advance made under this Part, together with interest, shall be secured by a deed of charge over: > > > > > (a) the lands of the owner, or > > > > > (b) where the advance is repayable by 2 or more owners, the lands of each of those owners, > > > > or over such of those lands as the Minister considers sufficient, whether those lands are the lands in respect of which the advance was made or not. > > > (2) Such deed of charge shall, where the works are to be carried out by any person or body, including the owner, other than the Minister, be expressed to be made between the owner of the lands and the Authority, and where the works are to be carried out by or on behalf of the Minister, be expressed to be made between the owner of the lands, the Minister and the Authority, and shall provide for the repayment of the amount advanced to such owner by consecutive half-yearly instalments within a period, not exceeding fifteen years, determined by the Minister, together with interest as aforesaid on the amount owing from time to time, and shall contain: > > > > > (a) a condition to the effect that in the event of the owner failing to maintain the works in respect of which the advance is made to the satisfaction of the Minister or failing to observe the conditions as to land use or otherwise specified in the statement furnished to the owner in pursuance of section 22C, the whole of the principal and interest secured by the charge shall at the option of the Authority become immediately due and payable, and > > > > > (b) such other powers, covenants, provisions, conditions and clauses as the Authority determines. > > > (3) Where any works are to be carried out by or on behalf of the Minister such deed of charge shall be executed by the owner before the commencement of the construction of the works and where any works are to be carried out by any person or body, including the owner, other than the Minister, such deed of charge shall be executed by the owner before any advance is made to the owner. > > > (4) Any sum payable under a deed of charge under this section shall be paid to the Authority and shall, until so paid, be and remain a charge in its favour on the land mentioned in the deed, and shall be recoverable by the Authority in any court of competent jurisdiction from the owner of the land for the time being. > > > (5) If the Minister so approves, the repayment of an advance made under this Act, together with interest, may be secured partly by a deed of charge and partly in some other manner approved by the Minister or wholly in some other manner approved by the Minister. > > > (6) The provisions of this section have effect despite anything contained in section 42 of the [Real Property Act 1900](/view/html/inforce/current/act-1900-025). > > **s 22K:** Ins 1947 No 11, sec 2 (1). Am 1978 No 128, Sch 4 (16); 1989 No 98, Sch 1; 2009 No 17, Sch 3.15 \[2\].