516. Payment where land is subject to mortgage or settlement.

Where any compensation, other than annual compensation1 or compensation by way of payment of the cost of works2, payable under the Opencast Coal Act 1958 is payable in right of an interest in land3 which is subject to a mortgage4, any mortgagee of the interest may make a claim for the compensation5 and the compensation is payable to the mortgagee6 or, where there is more than one mortgagee, to the first mortgagee