Section 32
Power of rno1·tgage bank . t to receive moneys and g1·ant valid discha1·ges notwzthsfaltdmg assignment of mortgage deeds to the Central Mortgage Bank -Notwtthslandmg that a mort-. gage executed 111 favour of a prtmary mortgage bank has been transferred, or is deemed under the .P· OVISions of section 23 to have been transfer1ed, to the Central Mort!:,age Bank-
32. Power of rno1·tgage bank . t to receive moneys and g1·ant valid discha1·ges notwzthsfaltdmg assignment of mortgage deeds to the Central Mortgage Bank -Notwtthslandmg that a mort-. gage executed 111 favour of a prtmary mortgage bank has been transferred, or is deemed under the .P· OVISions of section 23 to have been transfer1ed, to the Central Mort!:,age Bank-
'(a) all money<; due .under the mortgage shall, in the abst:ncc of any spectfic d1rect10n ·to the contrary is--ued by the!Board or the Trustee and communtcated·to the mortgagor, be payable to the primary mortgage bank and such payment shall bE' as valtd as if the mortgage had not been so·transferred; and
(b) the prtmary mortgage bank shall, m the absence of any spectfic d1rect10n to the contrary,issued by the Boa1 d or the Trustee and comn1umcated to the prtmary mortgage hank be enlltled to sue on the mortgage or take any other proceedings for the recovery of the moneys due under the mortgage.