(1) A mortgage, charge
or lease may be extended by an instrument of extension executed by all the
parties to the mortgage, charge or lease, as the case may be, and setting out
the term of the extension and the conditions on which the extension is made.
(2) Where an
instrument of extension is presented to the Registrar he shall enter a
memorandum of it on the certificate of title and the Registrar may also
—
(a) in
the case of a lease, enter a memorandum of it on the record of the lease held
by the Authority; or
(b) in
the case of a sublease of land that is the subject of a paper title, enter a
memorandum of it on the sublease.
(3) No dealing
registered subsequent to any mortgage, charge or lease shall be affected by
the extension of the mortgage, charge or lease, as the case may be, unless the
proprietor in whose favour the dealing was registered gives written consent to
the extension.
[Section 105A inserted: No. 81 of 1996 s. 65;
amended: No. 6 of 2003 s. 38; No. 60 of 2006 s. 118(1).]