444. Application of the statutory power of sale.

(iv)     Statutory Power of Sale

444.     Application of the statutory power of sale.

A power of sale is conferred by statute1. The mortgage must be made by deed, but, subject to this, the power applies to any mortgage, charge or lien on real or personal property or any interest in it, or any thing in action2, except certain bills of sale3, and possibly debentures upon a statutory public utility company4.

The registered proprietor of a registered charge over registered land is entitled to exercise owners' powers5, which include power to make a disposition of any kind permitted by the