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, con
tained 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 pro
perty 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 regis
tration 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 satis
faction 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.
