Companies Act, 1963

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Entries of satisfaction and release of property from charge.

105.—The registrar of companies, on evidence being given to his satisfaction with respect to any registered charge

(a) that the debt in relation to which the charge was created has been paid or satisfied in whole or in part; or

(b) that part of the property or undertaking charged has been released from the charge or has ceased to form part of the company's property or undertaking;

and after giving notice to the person to whom such charge was originally given or to the judgment creditor, as the case may be, may enter on the register a memorandum of satisfaction in whole or in part, or of the fact that part of the property or undertaking 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 where he enters a memorandum of satisfaction in whole he shall, if required, furnish the company with a copy thereof.