You have a mortgage on management rights or a spectrum licence. If you want to change the terms, you must write it down. The person who lent you the money, the mortgagee, must agree to the changes in writing. This means the changes are binding on the mortgagee and anyone who gets an interest in the mortgage later.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM197127.

This page was last updated on 12 December 2025 — View changes

Topics:

Money and consumer rights > Banking and loansHousing and property > Buying and selling homesBusiness > Industry rules

75: Alteration of terms of mortgage by endorsement, or

"Changing the Rules of a Mortgage"

77: Variation of priority of mortgages, or

"Changing the order of importance of mortgages on certain rights or licences"

Part 9Mortgages

76Consent to variation of mortgage

A memorandum varying the terms or conditions of any mortgage of any management rights or spectrum licence subject to a subsequent mortgage shall not be binding on any mortgagee unless the mortgagee has consented to that variation in writing on that memorandum, but that consent shall render that memorandum binding on the mortgagee so consenting, and shall be deemed to be notice to and shall be binding on all persons who may subsequently derive from the mortgagee any interest in the mortgaged management rights or spectrum licence.

Notes

Section 76: amended, on 12 October 2001, by section 54 of the Radiocommunications Amendment Act 2000 (2000 No 8).