12. Determination of the portion of the principal amount secured by mortgage.
- For the purposes of sub-section (7) of section 8 of the Act, the portion of the principal amount secured by the mortgagee which is attributable to the portion of the property in the possession of the mortgagee shall be such amount as determined by the Court taking into account the total extent and amount secured by the mortgage, the value of the extent of the property in the possession of the mortgagee and proportionate amount of the principal amount secured by such mortgage.
