(4) Where an application is made under subsection S. 116(4) (3), the Director shall seek the views of the credit amended by No. 52/1998 provider or mortgagee and, after giving him a s. 24(1). reasonable opportunity to be heard and making such other inquiries as the Director thinks fit, determine whether or not to seek to negotiate the postponement to which the application relates and, where he seeks, but is unable to obtain, such a postponement, the Director shall refer the application to the Tribunal. (5) Subsection (2) applies to and in respect of a postponement negotiated under subsection (4) in the same way as it applies to and in respect of a postponement negotiated under subsection (1). (6) The Tribunal may, where it receives an S. 116(6) amended by application referred to it under subsection (4), No. 52/1998 dismiss the application if it has determined similar s. 24(2). issues under section 74 or may order or refuse to order the postponement to which the application relates and, where it orders a postponement, may make such other orders as it thinks fit. (7) Where an order under subsection (6) is in force, S. 116(7) amended by the credit provider or mortgagee under the No. 52/1998 contract or mortgage to which the application s. 24(1). relates may apply to the Tribunal for a variation of the order. (8) The Tribunal may, where it receives an S. 116(8) amended by application under subsection (7), make such No. 52/1998 variation of the order to which the application s. 24(2). relates as it thinks fit or may refuse to make such an order. (9) An order in force under this section, and such an order as varied from time to time, has effect according to its tenor. (10) Where a mortgagor commences negotiations under subsection (1) with a mortgagee after the
S. 116(4) amended by No. 52/1998 s. 24(1). (4) Where an application is made under subsection (3), the Director shall seek the views of the credit provider or mortgagee and, after giving him a reasonable opportunity to be heard and making such other inquiries as the Director thinks fit, determine whether or not to seek to negotiate the postponement to which the application relates and, where he seeks, but is unable to obtain, such a postponement, the Director shall refer the application to the Tribunal. (5) Subsection (2) applies to and in respect of a postponement negotiated under subsection (4) in the same way as it applies to and in respect of a postponement negotiated under subsection (1). S. 116(6) amended by No. 52/1998 s. 24(2). (6) The Tribunal may, where it receives an application referred to it under subsection (4), dismiss the application if it has determined similar issues under section 74 or may order or refuse to order the postponement to which the application relates and, where it orders a postponement, may make such other orders as it thinks fit. S. 116(7) amended by No. 52/1998 s. 24(1). (7) Where an order under subsection (6) is in force, the credit provider or mortgagee under the contract or mortgage to which the application relates may apply to the Tribunal for a variation of the order. S. 116(8) amended by No. 52/1998 s. 24(2). (8) The Tribunal may, where it receives an application under subsection (7), make such variation of the order to which the application relates as it thinks fit or may refuse to make such an order. (9) An order in force under this section, and such an order as varied from time to time, has effect according to its tenor. (10) Where a mortgagor commences negotiations under subsection (1) with a mortgagee after the
84-10097a052.docx