Bills of Sale Ordinance

5.
Certain instruments giving power of distress to be subject to the Ordinance
Every attornment, instrument, or agreement, not being a mining lease, whereby a power of distress is given or agreed to be given by any person to any other person by way of security for any present, future, or contingent debt or advance, and whereby any rent is reserved or made payable as a mode of providing for the payment of interest on such debt or advance, or otherwise for the purpose of such security only, shall be deemed to be a bill of sale, within the meaning of this Ordinance, of any personal chattels which may be seized or taken under such power of
distress:
Provided that nothing in this section shall extend to any mortgage of any estate or interest in any land or tenement which the mortgagee, being in possession, has demised to the mortgagor as his tenant at a fair and reasonable rent.
[cf. 1878 c. 31 s. 6 U.K.]