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Section 45
Alteration of priority
A person entitled to receive priority under this Act may approve the change or abandonment of such priority. There is no need to register information regarding such agreement.
Secured Transaction Act, 2063 (2006)
Preamble - 0
Chapter - 2
Section 4: Establishment of registered officeSection 5: Duties, Duties and Powers of Registered OfficeSection 6: Right of access to office informationSection 7: Subjects of preliminary noticesSection 8: Sufficiency of name mentioned in noticeSection 9: Effects of changes in informationSection 10: Duration of Notice and Effect of TerminationSection 11: Name of mortgagee mentioned in noticeSection 12: Amendment to NoticeSection 13: Continuity of InformationSection 14: Termination of NoticeSection 15: Effectiveness of informationSection 16: CLAIMS REGARDING WRONGLY REGISTERED INFORMATIONSection 17: Liability of registered officeSection 18: Information can be obtained from the registered officeSection 19: Provisions relating to registration fees
Chapter - 4
Section 26: Maturity of mortgage rightsSection 27: Continuity of MaturitySection 28: Priority of mortgagee's rights in the same mortgaged propertySection 29: Priority of mortgage right over lienholder's rightSection 30: Implications of buying a mortgaged propertySection 31: Lessee of mortgaged propertySection 32: Notice of lien on the purchase priceSection 33: Sale of mortgaged property and gains thereonSection 34: Priority of mortgage rights on purchase price of equipmentSection 35: Priority of lien on purchase price in stock or domestic animalsSection 36: Priority of the right to take control of goodsSection 37: Connected similarSection 38: CropSection 39: InsertionSection 40: Miscellaneous GoodsSection 41: Purchase of Secured Sale Agreements and WarrantsSection 42: HandoverSection 43: Prohibition or Prohibition on Sale or TransferSection 44: Future DeliverySection 45: Alteration of priority
Chapter - 5
Section 46: Provisions relating to compliance with obligationsSection 47: Right of mortgagee to acquireSection 48: Right of mortgagor to take possession of mortgaged propertySection 49: Rights acquired in case of opposition to the enforcement of mortgage rightsSection 50: Mortgagor may sell mortgaged propertySection 51: Consequences of traffickingSection 52: Seizure or seizure of mortgaged propertySection 53: Right of mortgagor to dispose of mortgaged propertySection 54: Liability of mortgagor for failure to comply with obligation