Section 86.
1Notwithstanding anything in subsection (3) of section eighty-six of this Act—
(a)the creation of a mortgage of or charge on land shall not be treated as a disposition thereof; but
(b)the exercise by a mortgagee or chargee of any right to take possession or to foreclose shall be treated as a major disposition of the land.
2(1)Paragraph (a) of the said subsection (3) shall not apply to any disposition made in the exercise of the powers of a mortgagee or chargee.
(2)No exercise of any such powers as aforesaid shall be a disposition to which the said section eighty-six applies if the mortgage or charge was made at a time when that section was not in force, or when the land to which the exercise relates was not comprised in an agricultural unit.