39  &  40  Vict.  Cap.  45,  s.  12.

167'

(7.)  Application  of  profits.—The  profits  of  the  society
may  be  applied  to  any  lawful  purpose  (c).
(8.)  Discharge  of  mortgages  by  receipt  endorsed.—A  receipt
under  the  hands  of  two  members  of  the  committee  of  the
society,  countersigned  by  the  secretary,  in  the  form,  contained ­
  in  the  third  schedule  to  this  Act,  or  in  any  form
specified  by  the  rules  of  the  society  or  any  schedule  thereto,,
for  all  moneys  secured  to  the  society  by  any  mortgage  or
other  assurance  endorsed  upon  or  annexed  to'such  mortgage
or  other  assurance,  shall  vacate  the  same,  and  vest  the  property ­
  therein  comprised  in  the  person  entitled  to  the
equity  of  redemption  of  the  same,  without  re-conveyance  or
re-surrender;  but  this  provision  shall  not  apply  to  Scotland
or  to  the  island  of  Jersey.
(9.)  Registration  of  receipt.—If  such  mortgage  or  other
assurance  has  been  registered  under  any  Act  for  the  registration ­
  or  record  of  deeds  or  titles,  or  is  of  copyholds  or
lands  of  customary  tenure  and  entered  on  any  court  rolls,
the  registrar  under  such  Act,  or  recording  officer,  or  steward
of  the  manor,  or  keeper  of  the  register,  shall,  on  production
of  such  receipt,  verified  by  oath  of  any  person,  enter  satisfaction ­
  on  the  register  or  on  the  court  rolls  respectively  of
such  mortgage  or  of  the  charge  made  by  such  assurance,
and  shall  grant  a  certificate,  either  upon  such  mortgage  or
assurance  or  separately  to  the  like  effect,  which  certificate
shall  be  received  in  evidence  in  all  courts  and  proceedings
without  further  proof,  and  such  registrar,  recording  officer,
steward,  or  keeper  of  the  register  shall  be  entitled  to  a  fee
of  two  shillings  and  sixpence  for  making  the  said  entry  and
granting  the  said  certificate,  and  such  fee  shall  in  Ireland
be  paid  by  stamps,  and  applied  as  other  fees  of  the  Registry
of  Deeds  Office  and  Record  of  Title  Office  are  by  law
directed  to  be  paid  and  applied.

(c)  By  sect.  3  of  the  Act  of  1862,  “  applying  the  profits  for
any  purposes  allowed  by  the  Friendly  Societies  Acts  or  otherwise
permitted  by  law,”  was  defined  as  part  of  the  purposes  of  a.
society.