Page:Land Titles Ordinance (Cap. 585).pdf/34

LAND TITLES ORDINANCE '''38. Second or subsequent charges'''

The owner of registered land, or the lessee of a registered long term lease, which is subject to a registered charge may effect a second or subsequent registered charge in the same manner as a first registered charge and—
 * (a) subject to paragraph (b), for that purpose the provisions of this Ordinance which apply to a first registered charge shall apply to a second or subsequent registered charge in the same manner as those provisions apply to a first registered charge; and
 * (b) any power of sale expressed or implied in a second or subsequent registered charge shall be subject to all prior registered charges which have not been discharged.

39. Charge on registered charge

The owner of a registered charge may effect a charge on any interest he has in the registered charge and any charge so effected may be registered as an incumbrance specifying the person in whose favour it is made as the owner.

40. Discharge or partial discharge of registered charge

A discharge or partial discharge of a registered charge shall be effected by—
 * (a) in the case of a discharge, the removal of the entry in the Title Register referring to the charge;
 * (b) in the case of a partial discharge, the alteration of the entry in the Title Register referring to the charge or its removal or substitution by a new entry, as the case may require.

41. Satisfaction of registered charge

On proof to the satisfaction of the Registrar—
 * (a) that all money or money’s worth due under a registered charge has been paid to the chargee or by his direction;
 * (b) that there has been fulfilment of all the conditions to which a registered charge relates;
 * (c) that part of money or money’s worth due under a registered charge has been paid to the chargee or by his direction; or
 * (d) that there has been fulfilment of some of the conditions to which a registered charge relates,

the Registrar shall—