Part 2Security over Moveable Property
Chapter 1Pledge
Property encumbered by statutory pledge: effect of transfer by provider
52Extinction of statutory pledge where dealings inconsistent with a fixed security
If a secured creditor acquiesces, expressly or impliedly, in a provider’s transfer of encumbered property (or any part of it) to a third party, other than by means of granting the consent mentioned in section 51(2), the statutory pledge under which the property (or part) was encumbered is extinguished.