HC Deb 03 August 1897 vol 52 cc314-5

(1.) The provisions of Section eight of the Conveyancing and Law of Property Act 1881 shall apply, so far as applicable thereto, to transfers of registered land as though such transfers were made by deed, and a transfer of land made by the proprietor of a registered charge with power of sale shall operate as a conveyance in professed exercise of the power of sale conferred by the said Act.

(2.) The provisions of Sections nineteen, twenty, twenty-one (except Sub-sections one and four), twenty-two, twenty-three, and twenty-four, inclusive of the same Act, shall similarly apply to registered charges.

(3.) Every registered proprietor of land may, in the prescribed manner, charge it with an annuity or other periodical payment, and the provisions of the principal Act and this Act with regard to charges shall apply to any such charge. Every registered proprietor of land may charge it, in favour of a building society under the Building Societies Acts, by means of a mortgage in a form authorised by the rules of that society, and the mortgage shall be deemed a charge made in the prescribed manner, and shall be registered accordingly.

(4.) Nothing contained in any charge shall (i) take away from the registered proprietor thereof the power of transferring it by registered disposition or of requiring the cessation thereof to be noted on the register, or (ii) affect any registered dealing with land or a charge in respect of which the charge is not expressly registered or protected, in accordance with the principal Act and this Act.

(5.) The Registrar may, on the application, or with the consent, of the registered proprietor of the land, and of the proprietors of all registered charges (if any) of equal or inferior priority, alter the terms of a charge.

(6.) Where a person on whom the right to be registered as proprietor of land or of a charge has devolved by reason of the death or bankruptcy of the registered proprietor, or has been conferred by an instrument of transfer or charge, in accordance with the principal Act and this Act, desires to transfer or charge the land or to deal with the charge before he is himself registered as proprietor, he may do so in the prescribed manner, and subject to the prescribed conditions. Subject to the provisions of the principal Act with regard to registered dealings for valuable consideration, a transfer or charge so made shall have the same effect as if the person making it were registered as proprietor.

Amendment made: In Sub-section (3) leave out "in a form authorised by," and insert "made in pursuance of or consistent with."—(Mr. Jackson).

Clause 11,—