Section 59 — Protection of Personal and Property Rights Act 1988: Notional preservation of character of money expended for certain purposes

59 Notional preservation of character of money expended for certain purposes (1) A Court shall have power to order that the whole or any part of any money expended or to be expended for— (a) The improvement, security, or advantage of any property of a person subject to a property order; or (b) Repaying money secured by a mortgage or other charge over such property,— shall be a charge upon the property, but so that no right of sale during the lifetime of the person shall be conferred by the charge. (2) The charge may include interest on the money if the Court thinks fit, and the Court may give directions regarding payment of interest. (3) The charge may take effect in favour of a person as trustee for the person subject to a property order as part of that latter person's personal estate or of a specified part thereof. (4) At any time before the death of a person in respect of whom the Court has made an order under this section, and whether or not that person is still subject to a property order, the Court may vary or discharge the charge and give any consequential directions. (5) Nothing in this section shall apply to any mortgage or charge in favour of any other person who advances the money, nor shall it restrict the operation of section 56 of the Public Trust Act 2001 or affect any charge created by subsection (4) of that section. Subsection (5) was amended, as from 1 March 2002, by section 170(1) Public Trust Act 2001 (2001 No 100) by substituting the words “ section 56 of the Public Trust Act 2001 or affect any charge created by subsection (4) of that section ” for the words “ section 39 of the Public Trust Office Act 1957 or affect any charge created by subsection (3) of that section ” . See clause 2 Public Trust Act Commencement Order 2002 (SR 2002/11).