South Australian Current Acts South Australian Current Acts142A—Provision for case where mortgagee or encumbrancee refuses to join
in proceedings on default
(1) Where two or more
persons are registered as mortgagees or encumbrancees under the same mortgage
or encumbrance, and such default has been made in payment of any money due
under the mortgage or encumbrance or in the performance of any covenant in the
said mortgage or encumbrance expressed or implied as entitles the mortgagees
or encumbrancees to exercise any of their rights or remedies under this Act or
under the mortgage or encumbrance, and any such mortgagee or encumbrancee
fails or refuses to join in giving any notice, making any application or doing
any other act or thing for the purpose of enforcing any of the said rights or
remedies, the Court may, on the application by originating summons of any
other mortgagee or encumbrancee and on any terms and conditions which it
thinks just—
(a)
appoint any one of such mortgagees or encumbrancees or any other person to
exercise on behalf of the mortgagees or encumbrancees such of the said rights
or remedies as the Court thinks proper;
(b) give
any directions as to the mode of exercising the said rights or remedies and as
to any other matters incidental thereto.
(2) Any document
executed by any person so appointed shall, for the purposes of this Act, but
subject to the terms of the order, have the like effect as if executed by the
mortgagees or encumbrancees.