On 20/05/2013,
you requested for the version in force on 20/05/2013
incorporating all amendments published on or before 20/05/2013.
The closest version currently available is that of 15/03/1989.
15.
—(1) Notwithstanding any other provision of this Act, a prior mortgagee of land shall have the right to make further advances giving further credit or accommodation to rank in priority to subsequent mortgages —
(a)
if the prior mortgage authorises the making of further advances, or the giving of credit in instalments or on a current, revolving or continuing account or other accommodation; or
(b)
where the prior mortgage does not expressly authorise the making of such further advances, or for the giving of credit in instalments or on a current, revolving or continuing account or other accommodation, if the subsequent mortgagee agrees to such further advances being made or such credit or other accommodation being given.
(2) Except as provided in this section, the right to tack shall not apply to mortgages.