HL Deb 21 October 1969 vol 304 cc1692-3

>Clause 15, page 7, line 40, leave out from beginning to "and" in line 43.

Clause 15, page 8, line 31, at end insert— (4A) A puisne mortgage registered in the deeds register maintained at a Yorkshire deeds registry shall be registrable under the Land Charges Act 1925 to the same extent as a puisne mortgage not registered in any local deeds register, and accordingly in section 10 (1) of that Act, in Class C (i), the words 'and (where the whole of the land affected is within the jurisdiction of a local deeds registry) not being registered in the local deeds register' are hereby repealed.

Clause 15, page 8, line 35, leave out "(1) (6)"and insert"(4A)".

Clause 15, page 8, line 35, leave out at end insert— (6) Where before the commencement of this Act a person has purported to register under the Land Charges Act 1925 a mortgage which was incapable of such registration because already registered in the deeds register maintained at a Yorkshire deeds registry, the purported registration shall be treated as valid notwithstanding the prior registration in the deeds register.

Clause 19, page 10, line 7, leave out "(b) or (c)" and insert"(c), (4A) or (6)".

Clause 19, page 10, line 16, leave out "(1) (b)" and insert "(4A)".

Clause 19, page 10, line 17, leave out "during the" and insert "before the expiration of".

Clause 19, page 10, line 18, leave out from "date" to "and" in line 19 and insert "which under section 14 (3) of this Act is the relevant date in relation to the Yorkshire deeds registry in question ".

THE LORD CHANCELLOR

My Lords, with your Lordships' permission I should like to take Amendments 7 to 14 together and to speak also to Amendment No. 24. This group of Amendments improves the position of mortgagees who are liable to suffer loss as a result of closure of a Yorkshire Deeds Registry under Part II of the Bill. Some puisne mortgages will need to be reregistered as land charges if their priority is to be preserved; and the Bill provides that any mortgagee who registers within two years of the first closure of a registry but nevertheless suffers some loss is to be compensated—that is Clause 19.

This Amendment further improves the position of mortgagees by validating certain land charges registrations which have previously been ineffective by allowing mortgages registered only in the deeds registers to be re-registered as land charges from the commencement of the Bill, and not only from the date on which the register begins to close; and by adjusting the indemnity provisions of Clause 20 so as to cover any losses resulting from these new provisions. The first change is effected by Amendment No. 10; the second by Amendments Nos. 7, 8, 9 and 24, and the third by Amendments Nos. 11 to 14. My Lords, I beg to move.

Moved, That this House doth agree with the Commons in their Amendments Nos. 7 to 14.—(The Lord Chancellor.)

On Question, Motion agreed to.