Section 154
⎯(1)
Upon the production of any memorandum, by endorsement on the charge or otherwise signed by the chargee and duly attested, acknowledging receipt of the moneys secured or discharging the land, estate or interest from the whole or part of the principal sum, or discharging any part of the land comprised in the charge from the whole or any part of that principal sum, the Registrar shall make an entry in the Register and on the issue document of title noting that the charge is discharged wholly or partially.
(2)
Upon the making of any such entry, the land, estate or interest mentioned or referred to in the memorandum shall cease to be subject to, or liable for, the principal sum or for the part so noted in
133
the entry as discharged. Where the charge is wholly discharged, any caveat included therein shall cease to have any effect.
(3)
The duplicate of every charge wholly or partially discharged as aforesaid shall be surrendered to the Registrar to be cancelled or partially cancelled, as the case may be, unless the
Registrar sees reasonable cause to dispense with this surrender.
Repayment when chargee cannot be found