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Questions and Answers
Where can the application for sale be made to determine whether it should be made to the High Court or Land Administrator?
Where can the application for sale be made to determine whether it should be made to the High Court or Land Administrator?
- High Court using Form 16G
- High Court using Registry Title
- Land Administrator using Form 16G (correct)
- Land Administrator using Originating Summons
According to S.256 of NLC, what is the requirement for making an application for sale?
According to S.256 of NLC, what is the requirement for making an application for sale?
- The application must be made within 1 week of the date of order.
- The application must be made according to the law related to civil procedure. (correct)
- The application must be approved by the chargor.
- The application must be made using Form 16H.
What is contained in Form 16H as per S.257(1) of NLC?
What is contained in Form 16H as per S.257(1) of NLC?
- Details of the licensed auctioneer appointed by the court.
- Conditions for postponement of the sale.
- Chargor's approval for the sale.
- Reserve price fixed by the Registrar. (correct)
What must the chargee do not less than 1 week before the date fixed for the sale as per S.258(2) of NLC?
What must the chargee do not less than 1 week before the date fixed for the sale as per S.258(2) of NLC?
When can the court appoint a licensed auctioneer to conduct the sale as per S.259 of NLC?
When can the court appoint a licensed auctioneer to conduct the sale as per S.259 of NLC?
Who is entitled to attend the enquiry according to S.262 of NLC?
Who is entitled to attend the enquiry according to S.262 of NLC?
What happens if the chargee fails to appear at the enquiry as per S.262 of NLC?
What happens if the chargee fails to appear at the enquiry as per S.262 of NLC?
S.263 of NLC states that at the end of the enquiry, what action will Land Administrator (LA) take?
S.263 of NLC states that at the end of the enquiry, what action will Land Administrator (LA) take?
S.264(1) of NLC states that once an order is made, what must LA do?
S.264(1) of NLC states that once an order is made, what must LA do?
What does the bank/chargee do in the event of default for debts secured by charge?
What does the bank/chargee do in the event of default for debts secured by charge?
Under what circumstances can the chargee apply for an order for sale?
Under what circumstances can the chargee apply for an order for sale?
What does S.254(1) of NLC require in the notice of demand?
What does S.254(1) of NLC require in the notice of demand?
Why are orders for sale made in public auctions according to S.253 – 269 of NLC?
Why are orders for sale made in public auctions according to S.253 – 269 of NLC?
When can a chargee serve notice of demand in Form 16E according to S.255 of NLC?
When can a chargee serve notice of demand in Form 16E according to S.255 of NLC?
What happens if the borrower fails to remedy the breach within the time specified in the notice according to S.254(2) of NLC?
What happens if the borrower fails to remedy the breach within the time specified in the notice according to S.254(2) of NLC?
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