§ 136 — Entries of satisfaction and release of property from charge

136.—(1) Where, with respect to any registered charge —(a)

the debt for which the charge was given has been paid or satisfied in whole or in part; or

(b)

the property or undertaking charged or any part thereof has been released from the charge or has ceased to form part of the company’s property or undertaking of the company concerned,

the company may lodge with the Registrar in the prescribed form a statement of satisfaction in whole or in part, or of the fact that the property or undertaking or any part thereof has been released from the charge or has ceased to form part of the company’s property or undertaking (as the case may be) and the Registrar must enter particulars of that statement in the register.

(2) The statement must be endorsed with a statement by the chargee of the payment, satisfaction, release or ceasing referred to in subsection (1) (as the case may be) and the second‑mentioned statement constitutes sufficient evidence of that payment, satisfaction, release or ceasing.

—(1) Where, with respect to any registered charge —(a)

the debt for which the charge was given has been paid or satisfied in whole or in part; or

(b)

the property or undertaking charged or any part thereof has been released from the charge or has ceased to form part of the company’s property or undertaking of the company concerned,

the company may lodge with the Registrar in the prescribed form a statement of satisfaction in whole or in part, or of the fact that the property or undertaking or any part thereof has been released from the charge or has ceased to form part of the company’s property or undertaking (as the case may be) and the Registrar must enter particulars of that statement in the register.

(2) The statement must be endorsed with a statement by the chargee of the payment, satisfaction, release or ceasing referred to in subsection (1) (as the case may be) and the second‑mentioned statement constitutes sufficient evidence of that payment, satisfaction, release or ceasing.