Notwithstanding the
provisions of section 82 of the Mining Act 1904 2 and of regulations 192 and
193 made thereunder and of section 81D of the Transfer of Land Act 1893 ,
—
(a) no
mortgage or charge in a form commonly known as a “floating charge”
made or given, whether made or given before or after the commencement of this
section, pursuant to clause 19 of the Agreement over any lease, licence,
reserve or tenement granted under or pursuant to the Agreement by the Company
or any assignee or appointee who has executed, and is for the time being bound
by deed of covenant made pursuant to clause 19 of the Agreement; and
(b) no
transfer or assignment, whether made or given before or after the commencement
of this section, in exercise of any power of sale contained in such mortgage
or charge,
shall require any
approval or consent other than such consent as may be necessary under clause
19 of the Agreement and no such mortgage or charge shall be rendered
ineffectual as an equitable charge by the absence of any approval or consent
otherwise than as required by clause 19 of the Agreement or because the same
is not registered under the provisions of the Mining Act 1904 2 .
[Section 5 inserted: No. 63 of 1967 s. 4.]