New South Wales Consolidated Acts New South Wales Consolidated Acts(cf Act No 48, 1930, s 8)
Notwithstanding anything contained in the preceding provisions of this Part of
this Act, any mortgagee in possession, who entered into possession on or
before the twenty-sixth day of November, one thousand nine hundred and thirty,
may exercise all or any of his rights, powers, and remedies under the mortgage
without leave of the court:
Provided that, on the application of the mortgagor made within three months
after the commencement of this Act, the court may, if in all the circumstances
it thinks it just and equitable so to do, forbid the mortgagee from exercising
any power of sale or of foreclosure and may otherwise make such order as to
the exercise by the mortgagee of such rights, powers, or remedies as it thinks
fit, and the mortgagee shall comply with any such order.