Mining Titles Registration Act, 1967 (Act No. 16 of 1967)

Regulations

Schedules

Schedule A

Form C
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SCHEDULE A

FORM C

 

 

Prepared by me

 

.........................................................

CONVEYANCER

 

 

.........................................................

(State surname and initials in block letters.)

 

 

CONSENT

 

(TO SUBSTITUTION OF DEBTOR UNDER SECTION 38 OF THE MINING TITLES REGISTRATION ACT, 1967)

 

WHEREAS I, ......................................................................................................................... am the legal holder of mortgage bond No ................................................................. dated............................................ 20.................. passed by ................................................... for the sum of R …………………………... whereby was hypothecated as a ..................................................................  mortgage certain (here describe the right concerned) ......................................................

 

AND whereas there still remains due and owing under the said bond the full amount (where this is not so the balance due must be stated and a separate consent to noting part-payment must be lodged).

 

AND whereas the said .............................................................................. is about to transfer the aforesaid right to .......................................................................... who is willing to take over the liability of .................................................................................. and to be substituted for ........................................ as the debtor under the bond.

 

NOW therefore I, ............................................................................, hereby consent under the provisions of the said Act to ........................................................ being substituted as debtor under the bond and that from the date of execution of the transfer the said .................................... shall be released from any obligation under the said bond.

 

 

Dated at ................................ this ................... day of .................................. 20..........

 

 

AS WITNESSES:

 

1. ................................................................

 

2. ................................................................. SIGNATURE OF MORTGAGEE

 

 

AND I, .............................................................................., having read the above consent of the legal holder of mortgage bond No ............................. do hereby consent to accept transfer of the said right subject to such bond and to be substituted for the said ............................................. as debtor thereunder and I do hereby assume full liability  for the indebtedness under the said bond in terms of the provisions of the said Act.

 

 

Dated at ................................ this ................... day of .................................. 20..........

 

 

AS WITNESSES:

 

1. ................................................................

 

2. ................................................................. SIGNATURE OF TRANSFEREE

 

NOTES:

 

1. The provisions of subsection (4) of section 38 of the Act must be observed where necessary.

 

2. In the case of a covering bond the amount owing need not be disclosed but if the bond is for a lesser amount a reduction of cover must be noted.