Acts and Regulations

95-57 - General

Section 91
Disposition versions

Full text
Renewal, Amendment, Discharge, Transfer or Subordination
91(1)If a notice registered under subsection 90(1) has not expired, the secured party may register notice of its renewal, amendment or discharge or notice of the transfer or subordination of the security interest to which it relates by submitting a notice in Form 2 to the appropriate land registration office, setting out
(a) the registration particulars of the original notice,
(b) the name and address of the debtor named in the original notice,
(c) the name and address of the secured party named in the original notice,
(d) a description of the land in relation to which the original notice was registered,
(e) the name of the owner of the land, in relation to which the original notice was registered, as it appears in the land registry, if different from the debtor’s name,
(f) in the case of a renewal, the period of time during which the renewal of the notice is to be effective, expressed in multiples of whole years or infinity,
(g) in the case of a total discharge, a statement that the security interest is totally discharged,
(h) in the case of a partial discharge releasing part of the collateral from the security interest, a description of the collateral released from the security interest,
(i) in the case of a partial discharge releasing all of the collateral from part of the land in relation to which the original notice was registered, a description of the land to which the discharge relates, sufficient for the purpose of identification in the land registry, including the parcel identifier of the land,
(j) in the case of a subordination, the name and address of the person to whom the interest of the secured party is being subordinated and the nature and registration particulars of the interest to which the interest of the secured party is being subordinated,
(k) in the case of a transfer, a statement that the interest referred to in the original notice has been transferred and the name and address of the person to whom the interest has been transferred, and
(l) in the case of an amendment to the debtor or secured party information contained in the original notice, a statement providing the particulars of the amendment.
91(2)A notice referred to in subsection (1) shall be signed by the secured party or the secured party’s agent and due execution shall be proved in the manner required by the Registry Act.
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