Radiocommunications Act 1989

Mortgages

80: Notice to subsequent mortgagee

You could also call this:

"Telling other mortgage holders about a mortgage on something you own"

Illustration for Radiocommunications Act 1989

You have a mortgage on something like management rights or a spectrum licence. If someone else also has a mortgage on it, the first mortgage holder must tell them about it. They do this by serving them a copy of a notice after they have served one on you, as explained in section 79. You might wonder what happens if the first mortgage holder does not tell the next one. Not telling them does not stop the first mortgage holder from using their powers, as explained in section 79. It also does not stop the money owed from becoming payable.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM197135.

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

Topics:

Money and consumer rights > Consumer protectionHousing and property > Buying and selling homesHousing and property > Home safety and repairs

79: Restriction on exercise of power of sale, or

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

81: Court may permit mortgagee to exercise power before period expired, or

"Court can let mortgagee use their rights early"

Part 9Mortgages

80Notice to subsequent mortgagee

Where any management rights or spectrum licence that are or is subject to a mortgage are or is subject to any subsequent mortgage, and the mortgagee has actual notice of the name and address of the subsequent mortgagee, the first-mentioned mortgagee shall forthwith after serving notice on the mortgagor under section 79 serve a copy of the notice on the subsequent mortgagee.
Failure to comply with subsection (1) shall not of itself prevent any of the powers referred to in section 79 from becoming or being deemed to have become exercisable, or prevent any money secured by a mortgage from becoming or being deemed to have become payable.

Notes

Section 80(1): amended, on 12 October 2001, by section 54 of the Radiocommunications Amendment Act 2000 (2000 No 8).