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Paragraph 2 Completion of buildings etc. and prohibition of alterations etc.

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

It shall be an obligation on the debtor—

(a)

to complete, as soon as may be practicable, any unfinished buildings and works forming part of the security subjects to the reasonable satisfaction of the creditor;

(b)

not to demolish, alter or add to any buildings or works forming part of the security subjects, except in accordance with the terms of a prior written consent of the creditor and in compliance with any consent, licence or approval required by law;

(c)

to exhibit to the creditor at his request evidence of that consent, licence or approval.