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(1)Part I of Schedule 19 to this Act shall have effect with respect to the interest rate on controlled mortgages, and Part II of that Schedule shall have effect, subject to subsection (2) below, with respect to the enforcement of the mortgagee's rights and remedies under a controlled mortgage.
(2)Where the mortgagee under a controlled mortgage satisfies the county court that greater hardship would be caused if the restrictions imposed on the exercise of the mortgagee's rights and remedies by Part II of Schedule 19 continued to apply to the mortgage than if they were removed or modified, the court may by order allow him to exercise such of those rights and remedies as may be specified in the order, on such terms and conditions as may be so specified.
(3)Where the county court has made an order under this section it may vary or revoke it by a subsequent order.
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