206 Registration Of Transfer, Extension Or Modification Of Charges

• 206 (1) On application being made for registration of a transfer, extension or modification of a charge, the registrar, on being satisfied that all necessary parties have joined in it, must register the transfer, extension or modification by endorsing it in the register as a separate entry or as a note against the original entry or both, using the number and date of the application for registration and an appropriate symbol or abbreviation indicating the nature and effect of the instrument registered.
• (2) Unless he or she is a party to it, a modification of a charge does not affect the holder of a charge registered before the registration of the modification.

1979-219-201; 1982-60-56, proclaimed effective August 1, 1983.