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Section 16

Entry and satisfaction

of Bills of Sale Act 1950

ActIn forceProvision 16 of 41
Section 16
(1)

Where the amount, the payment of which is secured by a registered bill of sale, exceeds one thousand ringgit a Judge of the High Court, or, in any other case, a Sessions Court judge having jurisdiction over the district in which such bill of sale is registered may order a memorandum of satisfaction to be written on any registered copy of a bill of sale upon being satisfied that the debt, if any, for which such bill was made or given has been satisfied or discharged.

(2)

The Registrar or Assistant Registrar may write a memorandum of satisfaction upon any registered copy of a bill of sale on a consent to the satisfaction signed by the person entitled to the benefit of the bill of sale and verified by affidavit being presented to and filed with him, and on the original bill of sale being also produced to him.