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Power of charging to be exercised by registered charge.
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76.—Where a power to charge registered land, or a trust for securing money on registered land, is registered as a burden on the land, it may be exercised or executed by the creation of a registered charge and not otherwise, and the person empowered under any such power or trust to charge the land with the payment of any money shall have the same power to create a registered charge on the land for that money as if he were the registered owner of the land, and the charge shall be entered in its proper priority.
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