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LAND REGISTRATION ACT (NORTHERN IRELAND) 1970 - SECT 43

Priority of registered charge for future advances.

43.(1) Where a registered charge is expressed to be created on any land for
the purpose of securing future advances (whether with or without present
advances), the registered owner of the charge shall be entitled in priority to
any subsequent charge to the payment of any sum due to him in respect of such
future advances, except any advances which may have been made after the date
of, and with express notice in writing of, the subsequent charge.

(2) In this section, "future advances" includes sums from time to time due on
an account current and all sums which by agreement or the course of business
between the parties are considered to be advances on the security of the
charge.

© 1970 Crown Copyright

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