EBS Limited – Legal Office Notice No. 3 of 2014
1. EBS to EBSMF
S.I. No. 499 of 2008
With effect from 28th November 2008, pursuant to section 58 of the Asset Covered Securities Act 2001, EBS Building Society (EBS) received approval to transfer from time to time its mortgage assets to EBS Mortgage Finance (EBSMF).
Such statutory transfers have effect as a deed registered in the Registry of Deeds or Land Registry on the date on which they take effect, and no note of change of ownership of registered charges was made in either Registry. The first such transfer of a book of mortgages took place on 1st December 2008.
As it was not possible to identify which registered charges had been transferred, both EBS and EBSMF sealed vacates in respect of registered charges, with effect from 1st December 2008 until 30th June 2011. After that the EBS interest transferred to EBS Limited.
2. EBS to EBSL
With effect from 1st July 2011, by means of an acquisition conversion scheme pursuant to Part X1 of the Building Societies Act 1989 (as amended), all of the business and property, including the Mortgage Book, of EBS vested in EBS Limited (EBSL).
Deeds of charge and vacates dated prior to 1st July 2011 will be in the name of EBS. Deeds of charge and vacates dated on or after 1st July will be in the name of EBSL. All registrations effected on or after 1st July will be in the name of EBSL.
Conversion documentation is filed with the Authority under Inst. S2011LR004949K.
Legal Office Notice 2 of 2008 and Legal Office Notice 11 of 2011 are now rescinded.
23rd May 2014