{
  "url": "https://openlegislation.uk/public-works-loans-act-1875/section-28",
  "json_url": "https://openlegislation.uk/public-works-loans-act-1875/section-28.json",
  "legislation": "ukpga/Vict/38-39/89",
  "legislation_title": "Public Works Loans Act 1875",
  "legislation_url": "https://openlegislation.uk/public-works-loans-act-1875",
  "path": "section/28",
  "kind": "section",
  "number": "28",
  "heading": "Application of money arising on taking possession, sale, mortgage, &c. by the Treasury.",
  "text": "Any money arising from the taking possession, lease, sale, mortgage, or other disposition under this Act by or under the direction of the Treasury of any mortgaged property shall be applied first in discharge of all costs, charges, and expenses incurred by or under the direction of the Treasury in respect thereof, or otherwise by reason of the default in payment, and secondly in discharge of the whole of the principal of the loan secured by the mortgage and for the time being unpaid (notwithstanding that the same or any instalment thereof may not have become actually due), and in discharge of all interest accrued due on such principal, and of all other sums (if any) due under the mortgage.\nThe surplus (if any) of such money either shall be paid to the mortgagor or other person or persons entitled thereto, or, if the Treasury think fit, shall be paid by the Public Works Loans Secretary into the Chancery Division of the High Court in England in like manner as if he were a trustee of such money for the persons entitled thereto, and the court may make such orders for the payment and distribution of such money to or among those persons as may from time to time seem to the court just.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in s. 28 substituted (25.2.2020) by The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 27(3) (with art. 9)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 28 substituted (25.2.2020) by The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 27(4) (with art. 9)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 28 substituted (25.2.2020) by The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 27(5) (with art. 9)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words substituted by virtue of Supreme Court of Judicature (Consolidation) Act 1925 (c. 49), ss. 56(1)(a), 224(1)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 28 heading substituted (25.2.2020) by The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2020 (S.I. 2020/176), art. 1(2), Sch. 1 para. 27(2) (with art. 9)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "words substituted",
      "affecting": "uksi/2026/723",
      "affecting_title": "The Senior Courts (Transfer, Amendment and Consequential Provision) Order 2026"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/Vict/38-39/89/section/28",
    "retrieved_at": "2026-10-29T12:47:53.194140+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}