Section 27: Priority in favour of Committee
consolidated text (as at 2011, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
27. Priority in favour of Committee
(1) A loan granted under this Act shall be valid and effectual to all intents
and purposes and maintainable against any owner, co-owner, mortgage
creditor or any other person having an interest in the property in respect of
which the loan has been granted.
(2) No property offered as security or as additional or new security to the
Committee for the repayment of a loan shall be liable to be brought into
hotchpot or returned to an estate so long as the loan secured by mortgage
has not been repaid in full together with any interest which may be due on it
and the costs incidental to its recovery.