First registration–registration of a proprietor of a legal mortgage not within rule 22 or rule 38
34.—(1) The registrar must enter the mortgagee of a legal mortgage to which this rule applies as the proprietor of that charge if on first registration of the legal estate charged by that charge he is satisfied of that person’s entitlement.
(2) This rule applies to a legal mortgage—
(a)which is either—
(i)a charge on the legal estate that is being registered, or
(ii)is a charge on such charge, and
(b)which is not a charge falling within rule 22 or rule 38.