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COMPANIES CLAUSES CONSOLIDATION ACT 1845 - SECT 42 

Rights of mortgagees.

42. The respective mortgagees shall be entitled one with another to their
respective proportions of the tolls, sums, and premises comprised in such
mortgages, and of the future calls payable by the shareholders, if comprised
therein, according to the respective sums in such mortgages mentioned to be
advanced by such mortgagees respectively, and to be repaid the sums so
advanced, with interest, without any preference one above another by reason of
priority of the date of any such mortgage, or of the meeting at which the same
was authorized.

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© 1845 Crown Copyright

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