4. Certain instruments giving powers of distress to be subject to this Act
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, or 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 Act of any personal chattels which may be seized or taken under such power of distress.
However, this section shall not extend to any mortgage or hypothec of any interest in any land, tenement or hereditament which the mortgagee, being in possession, shall have demised to the mortgagor as his or her tenant at a fair and reasonable rent.