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INDUSTRIAL AND PROVIDENT SOCIETIES ACT (NORTHERN IRELAND) 1969 - SECT 33

Discharge of mortgages.

33.(1) Where, in the case of any mortgage to a registered society of any
property, a receipt in full for all moneys secured thereby on that property is
endorsed on or annexed to the mortgage or other assurance, being a receipt

(a)signed by two members of the committee and countersigned by the secretary
of the society or, if the society is in liquidation, signed by the liquidator
or liquidators for the time being, described as such; and

(b)in the form set out in Schedule 3, or in any other form specified in the
rules of the society or any schedule thereto,

(2) If the mortgage is registered in accordance with the Registration of Deeds
Acts, the Registrar under those Acts shall

(a)on production of the receipt mentioned in subsection (1), make an entry in
the margin of the registry-book against the registry of the memorial of the
mortgage that the mortgage is satisfied; and

(b)grant a certificate, either on the mortgage or separately, that the
mortgage is satisfied.

(3) The certificate granted under subsection (2)(b) shall

(a)be received in all courts and proceedings without further proof; and

(b)have the effect of clearing the register of the mortgage.

(4) In this section "mortgage" includes a further charge, and "mortgagor", in
relation to a mortgage, means the person for the time being entitled to the
equity of redemption.

© 1969 Crown Copyright

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