Execution of work in case of default

(1) Whenever under this Act any works of any kind are required to be executed or carried out by the owner of any premises and default is made in the execution of the works within the time prescribed, the Council may, if it thinks fit, cause the works to be executed or carried out, and the expenses incurred by the Council in respect thereof shall be a debt due to the Council by the owner for the time being of the premises. (2) The amount of the expenses so incurred by the Council shall bear interest at the rate of seven per centum per annum from the date of completion of the work executed or carried out by the Council until payment in full be made to the Council. (3) Subject to this Act, the amount of the expenses so incurred with the interest thereon and mortgagees’ costs shall be a first charge on the property in respect of which the work was executed or carried out by the Council and shall be prior and preferential to all existing or future charges or encumbrances except those in favour of Her Majesty or the Government and 42 the Council shall have the like rights and remedies as if the payment of such expenses, interest and costs had been secured by a legal mortgage of a fee simple in favour of the Council. (4) The Council shall not obtain any charge under this section unless a memorandum giving particulars of the charge is executed by the Council and recorded at the General Registry within two months from completion of the work executed or carried out by the Council or within such further time as the Chief Justice may allow under the General Registry Act. (5) The Council may make rules prescribing the form of the memorandum referred to in sub-section (4). (6) A memorandum required by this section shall be recorded without the payment of any recording fee and shall be exempt from stamp duty.