Agricultural Credit Act, 1927

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Registers of chattel mortgages.

25.—(1) As soon as conveniently may be after the formation and registration of the Corporation a register of chattel mortgages shall be set up in every Circuit Court Office and shall be thenceforward there kept and maintained in accordance with this section and the regulations made thereunder.

(2) Subject to compliance with the conditions prescribed by or under this section for the registration of a chattel mortgage every chattel mortgage shall be capable of being registered within seven days and no longer after its date in the register of chattel mortgages maintained under this section in the Circuit Court Office serving the area in which the farm of the mortgagor is situate or, where such farm is situate in two or more areas served by separate Circuit Court Offices, in each of the several registers of chattel mortgages maintained under this section in the said Circuit Court Offices respectively.

(3) Any person party to a chattel mortgage (whether as mortgagor, mortgagee, or surety) or the legal representative of any such person may register such chattel mortgage within seven days and no longer after its date in any register of chattel mortgages in which such chattel mortgage is capable of being registered under this section and such mortgagee or, with the consent in writing of the mortgagee, such mortgagor or surety or his legal representative may at any time remove such chattel mortgage from any such register.

(4) Whenever the principal moneys and interest secured by a chattel mortgage are fully repaid the mortgagee shall forthwith remove such chattel mortgage from every register of chattel mortgages in which it is registered under this section.

(5) No chattel mortgage shall be of any force or effect unless or until it is duly registered in accordance with this section and the regulations made thereunder in the register or every register (as the case may be) of chattel mortgages in which it is capable of being registered under this section and a chattel mortgage so registered shall cease to be of any force or effect if and when it ceases to be duly registered in such register or every such register (as the case may be).

(6) The contents of any register of chattel mortgages maintained under this section shall not be published or disclosed nor shall any copies thereof or any part thereof be issued to any person save only and except that—

(a) any person in the employment of the Corporation and duly authorised in writing in that behalf by the Corporation may at any time inspect and take copies of any such register or any part thereof; and

(b) any person in the employment of a recognised bank and duly authorised in writing in that behalf by such bank may at any time inspect and take copies of any such register or any part thereof; and

(c) an under-sheriff may at any time inspect the register of chattel mortgages maintained in a Circuit Court Office serving the area or any part of the area for which he is the under-sheriff; and

(d) any person in the service of the State and duly authorised in writing in that behalf by the Minister or the Minister for Lands and Agriculture may at any time inspect and take copies of any such register or any part thereof; and

(e) an officer employed in a Circuit Court Office and performing duties formerly performed by the undersheriff may at any time inspect the register of chattel mortgages maintained in such Circuit Court Office; and

(f) whenever the Supreme Court or any Judge of the High Court or the Circuit Court directs that a copy of the portion of any such register relating to any particular chattel mortgage or alleged chattel mortgage be furnished to them or him, such copy shall be so furnished accordingly and such Court or Judge may disclose or publish such copy or the contents thereof to such extent and in such manner and subject to such conditions as in their or his opinion justice may require.

(7) The High Court or the Circuit Court or the Supreme Court on appeal from the High Court may at any time cause any register of chattel mortgages maintained under this section to be rectified (whether by variation, addition, or omission) in such manner as justice may require.

(8) The Minister for Justice may by order make regulations in relation to all or any of the following matters, that is to say:—

(a) the form and contents of the several registers of chattel mortgages maintained under this section;

(b) the keeping and maintenance generally of such registers;

(c) the mode of registering a chattel mortgage in such registers and the evidence to be produced for the purpose of such registration of the due execution and stamping of such chattel mortgage;

(d) with the consent of the Minister for Finance the fees to be charged and taken in respect of the registration of chattel mortgages in such registers, the removal of chattel mortgages from such registers, the inspection of such registers and any other matter relating to such registers;

(e) the general preservation of the secrecy of such registers and in particular the evidence of authority to be produced by persons claiming to inspect or take copies of such registers.

(9) The expenses of carrying this section into effect shall, to such extent as shall be sanctioned by the Minister for Finance, be paid out of moneys to be provided by the Oireachtas.