355. Statutory power of mortgagor to accept surrender of lease.

For the purpose only of enabling an authorised lease1 to be granted, a mortgagor of land2, while in possession, has power, as against every incumbrancer, to accept a surrender of the whole or any part of the land comprised in the lease, with or without an exception in respect of all or any of the mines and minerals3 in it, and on a surrender of part of the land, or mines or minerals leased, the rent may be apportioned4, and the original lease may be varied if the lease so varied would have been an authorised lease if granted