Where a person does not object to a notice of default in accordance with the provisions of the last foregoing section, or where he has so objected and the notice has been upheld or varied under that section, it shall be his duty to comply with any requirement, due to be performed or fulfilled by him, contained in the notice or, as the case may be, in the notice as so varied.
Subject to the provisions of section 21(4) of this Act and subsection (4) below, where a person fails to comply as aforesaid, the creditor, subject to the next following subsection, may proceed to exercise such of his rights on default under standard condition 10(2), (6) and (7) as he may consider appropriate.
At any time after the expiry of the period stated in a notice of default, or in a notice varied as aforesaid, but before the conclusion of any enforceable contract to sell the security subjects, or any part thereof, by virtue of the last foregoing subsection, the debtor or proprietor (being in either case a person entitled to redeem the security) may, subject to any agreement to the contrary, redeem the security without the necessity of observance of any requirement as to notice.
Where the standard security is over land or a real right in land used to any extent for residential purposes—
(a) the creditor is entitled to exercise the right specified in standard condition 10(2) only—
(i) where the conditions in section 23A of this Act are satisfied, or
(ii) with the warrant of the court, granted on an application under section 24 of this Act, and
(b) subsection (3) above has effect as if the reference to the last foregoing subsection were a reference to section 24 of this Act.