49Discharge, etc., of registered charges.N.I.
(1)The Registrar shall—
(a)at the request or with the concurrence of the registered owner of the charge; or
(b)on proof in the manner specified in subsection (2) or in such other manner as may be prescribed;
note on the[F1 title register]
(i)the satisfaction of a registered charge or of any part thereof;
(ii)the release of any part of registered land from a registered charge;
and, thereupon, the charge shall, to the extent so noted, cease to operate.
(2)For the purposes of subsection (1), the receipt of the registered owner of a charge shall be sufficient proof of the satisfaction of the charge or, as the case may be, of the part thereof, and a release signed by the registered owner of a charge, or, where the registered owner is a body corporate, under the seal of the body corporate, shall be sufficient proof of the release of any part of registered land subject to that charge.