Plain language law

New Zealand law explained for everyone

Radiocommunications Act 1989

Mortgages

78: Rights of mortgagee

You could also call this:

"What happens if you can't pay back money borrowed to manage radio frequencies"

Illustration for Radiocommunications Act 1989

You have a mortgage of management rights. This means you have borrowed money to manage some radio frequencies. If you do not pay back the money or follow the rules, the person who lent you the money, called the mortgagee, gets some powers. The mortgagee can sell the management rights to some or all of the radio frequencies. The mortgagee can also give out spectrum licences under section 48.

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 It might be out of date or be missing some parts.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=DLM197131.

This page was last updated on — View changes

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesEnvironment and resources > ConservationEnvironment and resources > Climate and energy
Previous

77: Variation of priority of mortgages, or

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

Next

79: Restriction on exercise of power of sale, or

"Rules for selling something you mortgaged if you don't pay or follow the rules"

Part 9Mortgages

78Rights of mortgagee

  1. Without limiting the covenants, conditions, and powers that may, by agreement between the mortgagor and the mortgagee, be contained in a mortgage of management rights, a mortgage of management rights may confer on the mortgagee any of the following powers in the event of default, by the mortgagor, in the performance or observance of any covenant contained or implied in the mortgage:

  2. the power to sell the management rights in respect of all or part of the range of frequencies to which the mortgaged management rights relate:
    1. the power to grant spectrum licences under section 48 in relation to the mortgaged management rights.

      Notes
      • Section 78(b): amended, on , by section 54 of the Radiocommunications Amendment Act 2000 (2000 No 8).