Mortgages

Mortgages and other titles for repayment of loans made from a pension fund may be secured by– (a) any of the bonds, debentures or other evidences of indebtedness, shares or other securities which the pension fund may invest in under these Regulations, but the amount at which the mortgage or other title so secured shall not exceed the amount at which the bonds, debentures, or other evidences of indebtedness, shares or other securities might be vested in under these Regulations; or (b) real estate or leaseholds for a term of years or other estate or interest in real estate in Belize, where the amount of the loan together with the amount of indebtedness under any mortgage or other charge on the real estate or interest therein ranking equally with or superior to the loan does not exceed three quarters of the value of the real estate or interest therein, subject to the exception that a company that 70 Private Pensions has real estate invested in its funds, may upon sale thereof, invest a mortgage or other title accepted as part payment and secured thereon for more than three quarters of the sale price of the real estate.