Section 147
⎯(1)
State OrdinanceIn forceProvision 102 of 209
Section 147
The registered holder of a charge may create a sub-charge and this Code as to registered charges shall apply, with the necessary modifications, to registered sub-charges.
(2)
A charge subject to a sub-charge shall not be discharged, nor shall the terms thereof be varied, nor shall the chargee exercise any of his rights in the case of default, without the consent in writing of the sub-chargee.
Remedies for default