3rd Sch (19).

gate] [balance remaining owing in respect of the] principal money secured by the within [above] written [annexed] mortgage [and by an indenture of further charge dated, &c., or otherwise as required] together with all interest and costs, the payment having been made by

of [&c.] and

of [&c.] out of money in their hands properly applicable for the discharge of the mortgage [or otherwise as required].

In witness, &c.

PART II

EFFECT OF ENDORSED RECEIPT

(1.) Any such receipt shall operate

(a) In the case of land in fee simple comprised in
the mortgage, as a conveyance or re-conveyance
(as the case may be) of the land to the person (if
any) who immediately before the execution of the
receipt was entitled in fee simple to the equity of
redemption, or otherwise to the mortgagor in fee
simple to the uses (if any) upon the trusts subject
to the powers and provisions which at that time.
are subsisting or capable of taking effect with
respect to the equity of redemption or to uses
(if any) which correspond as nearly as may be

4th Sch. (19).

with the limitations then affecting the equity of redemption;

(b) In the case of other property, as an assignment or re-assignment (as the case may be) thereof to the extent of the interest which is the subjectmatter of the mortgage, to the person who immediately before the execution of the receipt was entitled to the equity of redemption :

Provided that (except as hereinafter mentioned) where, by the receipt, the money appears to have been paid by a person who is not entitled to the immediate equity of redemption, then, unless it is otherwise expressly provided, the receipt shall operate as if the mortgage had been a statutory mortgage and the benefit thereof had, by deed expressed to be made by way of statutory transfer or mortgage, been transferred to him; but this provision shall not apply where the mortgage is paid off out of capital money, or other money in the hands of a personal representative or trustee properly applicable for the discharge of the mortgage, unless it is expressly provided that the receipt is to operate as a transfer.

(2.) Nothing in this schedule shall confer on a mortgagor a right to keep alive a mortgage, paid off by him, so as to affect prejudicially any subsequent incumbrancer; and where there is no right to keep the mortgage alive, the receipt shall not operate as a transfer.

(3.) In any such receipt the same covenants shall be implied as if the person who executes the receipt had by deed been expressed to convey the property as mortgagee.

(4.) Where a mortgage consists of a mortgage and a further charge or of more than one deed, it shall be sufficient if the receipt refers either to all the deeds

whereby the mortgage money is secured or to the aggregate 4th Sch. (19). amount of the mortgage money thereby secured and is endorsed on, written at the foot of, or annexed to, one

of the mortgage deeds.

66

(5.) In this schedule the expression mortgage "mortgage money mortgagor " and "mortgagee

have the same meanings as in the Conveyancing Act, 44 & 45 Vict. 1881.

c. 41.

Provision for payment of money

HOUSING (ADDITIONAL POWERS) ACT, 1919

[9 & 10 GEO. 5. CH. 99.]

ARRANGEMENT OF SECTIONS

§ 1. Provision for payment of money to persons constructing houses -2. Aggregate amount of grants-3. Provision as to expenses under 8. 16 of 9 & 10 Geo. 5. c. 35.-4. Amendment of s. 7 and s. 19 of 9 & 10 Geo. 5. c. 35. with respect to amount of annual payments-5. Prohibition of building operations which interfere with provision of dwelling houses-6. Prohibition on demolition of dwelling-houses-7. Powers of borrowing for purpose of Housing Acts-8. Subsection (2) of s. 1 of 6 & 7 Geo. 5. c. 69. to be perpetual-9. Power of trustees to invest in certain securities issued by local authorities-10. Acquisition of land for purpose of garden cities or town planning schemes-11. Meaning of local authority-12. Execution of Act in county of London13. Application to Scotland-14. Application to Ireland-15. Short title and duration. SCHEDULE.

An Act to make further provision for the better housing
of the people, to authorise the acquisition of land for
the development of garden cities or for the purposes
of town planning schemes, and to make further pro-
vision with respect to the borrowing powers of public
authorities and bodies and with respect to the securities
issued by them.
[23rd December 1919.]
BE it enacted by the King's most Excellent Majesty,
by and with the advice and consent of the Lords
Spiritual and Temporal, and Commons, in this present
Parliament assembled, and by the authority of the same,
as follows:

1. (1.) Subject to the provisions of this Act, the Minister of Health (in this Act referred to as "the persons con- Minister") may, in accordance with schemes made by

structing

to

houses. him with the approval of the Treasury, make grants out