(1)  The Recorder, on proof to the Recorder’s satisfaction that all money secured by a registered mortgage has been paid, may record on the relevant folio of the Register or registered dealing that the mortgage is discharged, and upon that recording the mortgaged estate or interest ceases to be charged with any money secured by the mortgage.

(2)  In any of the cases mentioned in subsection (3) , the Recorder may, if the Recorder considers that there is sufficient cause for so doing –

(a) on proof to the Recorder’s satisfaction of the amount of the debt owing under a registered mortgage, direct that amount to be paid to the Treasurer; and

(b) on production to the Recorder of the receipt of the Treasurer for that amount, proceed as if the Recorder had been satisfied, under subsection (1) , that all money secured by that mortgage had been paid.

(3)  The cases in which the Recorder may act under subsection (2) are –

(a) when –

(i) a person who is entitled to receive payment of money secured by a mortgage –

(A) is out of the State;

(B) cannot be found; or

(C) is unknown; or

(ii) it is uncertain who is entitled to receive payment of money secured by a mortgage; and

(b) when the mortgagee or one of several mortgagees is dead, and there is no person within the State presently entitled to discharge the mortgage.

(4)  Between the person who is liable to pay money by reason of a mortgage affected by a recording made pursuant to this section and the person entitled to be paid it, any amount in fact outstanding at the time of the making of the recording shall be deemed to be a specialty debt created by the instrument under which, but for the operation of this section, it would be payable.

(5)  The Recorder may, if the Recorder thinks fit, hold an inquiry in order to be satisfied as to any fact or matter of which the Recorder may require proof for the purposes of this section, and may make such order as to the costs of any person attending such an inquiry as the Recorder thinks fit.

(6)  An order as to costs made under subsection (5) may be registered in the Supreme Court, and, on being so registered, is enforceable as if it were a judgment of that Court.