This Act may be cited as the Licensing Trusts Amendment Act 1968, and shall be read together with and deemed part of the Licensing Trusts Act 1949 (hereinafter referred to as the principal Act).

Nothing in the principal Act or any other Act, or in any rule of law, shall be construed to prevent the exercise, by the holder of any mortgage or charge lawfully given by any district, local, or suburban Trust established by or pursuant to any enactment, of any power or remedy conferred on him by the instrument creating the mortgage or charge, or by law, in the event of any default by the Trust in the payment of any money payable under the instrument or in the performance or observance of any covenant expressed or implied in it.

The reference in subsection (1) of this section to any power or remedy includes, without limiting the generality of that subsection, any power to sell or cause to be sold or otherwise dispose of any property or business or licence that is subject to the mortgage or charge.

This section shall apply to any such mortgage or charge, whether created before or after the passing of this Act.