Real Property Act 1900

This section applies to an instrument—

which has been registered—

before the commencement of this section, pursuant to section 39A (2) (or section 13F, 13K or 13M), or

after the commencement of this section, pursuant to section 13F, 13KA, 13M or 39A, or

where a person other than the mortgagee or chargee under the instrument becomes registered as the proprietor of an estate or interest in land affected by the instrument by virtue of an amendment of the Register—

before the commencement of this section, pursuant to section 39A (6A) (or section 13F, 13K or 13M), or

after the commencement of this section, pursuant to section 39B.

All dealings, whether by way of transfer, discharge or otherwise, with the mortgage, charge or covenant charge created by an instrument to which this section applies must be in accordance with the forms approved for corresponding dealings with land under the provisions of this Act and must be recorded in accordance with this Act. The Registrar-General may dispense with the requirements of this subsection in a particular case or class of cases.

When a power of sale becomes exercisable in respect of the instrument, the power may be exercised, and the estate or interest sold may be transferred, only in accordance with this Act.

If the instrument is one that creates a mortgage or covenant charge, anything done with respect to foreclosure because of a default in payment of an amount secured by the mortgage or charge, in so far as the thing done relates to land under the provisions of this Act, must be done in accordance with those provisions and not otherwise. This subsection has effect subject to section 101 of the Conveyancing Act 1919.