Document ID: chunk:federal_register_of_legislation:C2024C00826:clause:1_105
Version: federal_register_of_legislation:C2024C00826
Segment Type: clause
Provision Reference: sch 1 cl 105
Character Range: 914191–914870

105  Matters for which account can be debited after mortgagee sale of goods
  A credit provider that sells mortgaged goods under section 104 is entitled to deduct from the proceeds of that sale only the following amounts:
 (a) the amount currently secured by the mortgage in relation to the credit contract, not being more than the amount required to discharge the contract;
 (b) the amount payable to discharge any prior mortgage to which the goods were subject;
 (c) the amounts payable in successive discharge of any subsequent mortgages to which the goods were subject and of which the credit provider had notice;
 (d) the credit provider's reasonable enforcement expenses.