sec.257Application of income by trustee-mortgagee in possession

sec.257 Application of income by trustee-mortgagee in possession

Part 7, division 6 applies only in relation to a trustee who becomes mortgagee in possession of land in the circumstances mentioned in section 110(1) after the commencement. If a trustee became mortgagee in possession of mortgaged land before the commencement in the circumstances mentioned in the repealed Act, section 42(1), the repealed Act, section 42 continues to apply as if this Act had not been enacted. (sec.257-ssec.1) Part 7, division 6 applies only in relation to a trustee who becomes mortgagee in possession of land in the circumstances mentioned in section 110(1) after the commencement. (sec.257-ssec.2) If a trustee became mortgagee in possession of mortgaged land before the commencement in the circumstances mentioned in the repealed Act, section 42(1), the repealed Act, section 42 continues to apply as if this Act had not been enacted.