Victorian Current Acts Victorian Current ActsA mortgagee shall not exercise the power of sale conferred by this Part unless and until—
(a) notice requiring payment of the mortgage money has been served on the mortgagor or one of two or more mortgagors, and default has been made in payment of the mortgage money, or of part thereof, for one month after such service; or
(b) some interest under the mortgage is in arrear and unpaid for one month after becoming due; or
(c) there has been a breach of some provision contained in the mortgage deed or in this Part, or in any corresponding previous enactment, and on the part of the mortgagor, or of some person concurring in making the mortgage, to be observed or performed, other than and besides a covenant for payment of the mortgage money or interest thereon.
No. 3754 s. 104.