(1)  A mortgage may be stamped before an advance whether or not an earlier advance has been made.

(2)  A mortgage referred to in section 149 or 150 may be stamped to secure any amount exceeding that to which it is already stamped based on the dutiable proportion at the time of stamping.

(3)  A mortgage stamped under subsection (2) is –

(a) duly stamped; and

(b) not required to be stamped in accordance with section 149 again until an advance brings the total amount secured above the amount to which it is already stamped.

(4)  Section 150(6) and (7) apply to a mortgage package stamped before an advance.