Rule 108 – Sub-charges

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(1) The registered owner of a charge may charge it in the same manner as the registered owner of land may charge his/her land. Such a charge shall be described in the register as a sub-charge.

(2) A sub-charge may be created, registered, transferred, disposed of and released in the same manner as a charge.

(3) On the registration of a sub-charge or of any dealing therewith, the Authority may, where it deems it expedient or conducive to clarity, transfer the title to the charge affected by the sub-charge to the register maintained under Section 8(b) of the Act.