Radiocommunications Act 1989

86 Discharge of mortgage

(1)

Where the sum secured by a mortgage has been paid off either wholly or in part, or where for any other reason the mortgagee has become bound to discharge the mortgage either wholly or partially, the mortgagee shall complete a memorandum in the prescribed form.

(2)

A discharge of mortgage, when registered under this Act, shall effectually discharge the management rights or spectrum licence from the mortgage to the extent specified in the memorandum of discharge.

Section 86(1): amended, on 12 October 2001, by section 27(1) of the Radiocommunications Amendment Act 2000 (2000 No 8).

Section 86(2): amended, on 12 October 2001, by section 27(2) of the Radiocommunications Amendment Act 2000 (2000 No 8).