794. Entries Of Satisfaction And Release

(1) Subsection (5) applies if the statement set out in subsection (2) and the particulars set out in subsection (4) are delivered to the Registrar with respect to a registered charge.
(2) The statement referred to in subsection (1) is a statement to the effect that–
(a) the debt for which the charge was given has been paid or satisfied in whole or in part, or
(b) all or part of the property or undertaking charged–
(i) has been released from the charge, or
(ii) has ceased to form part of the company’s property or undertaking.
(3) Where a statement within subsection (2)(b) relates to part only of the property or undertaking charged, the statement must include a short description of that part.
(4) The particulars referred to in subsection (1) are–
(a) the name and address of the person delivering the statement and an indication of their interest in the charge,
(b) the registered name and number of the company that–
(i) created the charge (in a case within section 784 or 785), or
(ii) acquired the property or undertaking subject to the charge (in a case within section 786),
(c) in respect of a charge created before the effective date –
(i) the date of creation of the charge,
(ii) a description of the instrument (if any) by which the charge is created or evidenced,
(iii) short particulars of the property or undertaking charged,
(d) in respect of a charge created on or after the effective date, the unique reference code allocated to the charge.
(5) The Registrar must include in the register–
(a) a statement of satisfaction in whole or in part, or
(b) a statement of the fact that all or part of the property or undertaking has been released from the charge or has ceased to form part of the company’s property or undertaking (as the case may be).