Victorian Consolidated Legislation

Instruments Act 1958 - SECT 71

Right of lienee to ensuing clip of wool

71. Right of lienee to ensuing clip of wool

After such agreement as aforesaid has been registered as aforesaid, the
preferable lien of the lienee on the wool of the then next ensuing clip of
such proprietor shall not be in anywise extinguished suspended impaired or
otherwise prejudicially affected by any subsequent sale mortgage or other
incumbrance whatsoever of the stock mentioned and described in the registered
agreement relating to any such preferable lien, nor by the subsequent
bankruptcy or insolvency of the lienor his executors or administrators, nor by
any execution against his or their property, but shall be

as valid and effectual to all intents and purposes whatsoever against any such
subsequent purchaser mortgagee incumbrancer or other claimant or possessor of
the said stock, and against the assignees of such bankrupt or insolvent lienor
his executors or administrators, and against any execution creditor, as
against the original proprietor thereof who granted such lien. And if any such
lienor subsequent purchaser mortgagee incumbrancer or other claimant or
possessor assignee or execution creditor neglects or refuses to shear at the
usual season and deliver forthwith thereafter the wool of any stock for which
any such preferable lien has been granted as aforesaid, in pursuance of the
provisions in that behalf contained in such registered agreement, it shall be
lawful for the lienee his executors or administrators to take possession of
the stock bearing such wool for the purpose of washing and shearing the same,
and (if aut horized by such registered agreement in that behalf) to sell the
same; and all expenses attending such washing and shearing and the conveyance
of the wool to the place of abode of such lienee or to the nearest place of
shipment and of any sale as aforesaid shall be incorporated with and be deemed
in law part of the amount secured by such lien.