Amendment status not verified — confirm the current text below against the official source.
FURTHER CHARGE - Instrument of, that is to say, any instrument imposing a further charge on mortgaged property- (a) When the original mortgage is one of the description referred to in clause (a) of Article No.40 (that is, with possession); (b) when such mortgage is one of the description referred to in clause (b) of Article No. 40 (that is, without possession), (i) if at the time of execution of the instrument of further charge possession of the property is given, or agreed to be to be given under such instrument. (ii) if possession is not so given.