Clause 35

in the section heading, replace “in relation to which charge has been created under section 15AB(13)” with “with charge under section 15AB(13) or 21C(1)”;

in subsection (1), replace paragraph (b) with —“(b)any of the following charges has been constituted:

a charge constituted under section 15AB(13) on the immovable property to secure the payment to the Board of the whole or part of the retirement sum;

a charge constituted under section 21C(1) on a replacement property to secure the payment to the Board of the whole or part of the retirement sum, where the relevant charge referred to in section 21C(1)(a) is a charge mentioned in sub‑paragraph (i) or a charge under section 21C(1) for the payment to the Board of the whole or part of the retirement sum;”;

in subsections (1)(c), (3)(c) and (5)(c), after “immovable property”, insert “or replacement property (as the case may be)”;

in subsection (2), after “Subject to”, insert “subsection (2A) and”;

after subsection (2), insert —“(2A) In the case of a charge mentioned in subsection (1)(b)(ii) on a replacement property, subsection (2) applies with the following modifications:

any reference to immovable property in subsection (2)(c), (d), (e) and (g) is to be read as a reference to the replacement property;

in addition to subsection (2)(f), any reference to immovable property in section 15AB(14)(b) and (c) is to be read as a reference to the replacement property.”;

in subsection (3), replace paragraph (b) with —“(b)any of the following charges has been constituted:

a charge constituted under section 15AB(13) on the immovable property to secure the payment to the Board of the whole or part of the retirement sum;

a charge constituted under section 21C(1) on a replacement property to secure the payment to the Board of the whole or part of the retirement sum, where the relevant charge referred to in section 21C(1)(a) is a charge mentioned in sub‑paragraph (i) or a charge under section 21C(1) for the payment to the Board of the whole or part of the retirement sum; and”; and

in subsection (4)(a), after “under section 15AB(13)”, insert “or 21C(1)”.