Section 111 — Property Law Act 2007: Certificates and orders operate as discharge of mortgage

111 Certificates and orders operate as discharge of mortgage (1) A certificate by the Registrar that the amount ordered to be paid into court under section 110 was so paid, or a sealed copy of an order of a court declaring that all amounts secured by the mortgage have been paid in full, has effect as if it were a duly executed mortgage discharge instrument under section 83 . (2) If the mortgage referred to in subsection (1) is over land and is registered under the Land Transfer Act 1952 ,— (a) the Registrar-General must, on the registration of the certificate or order referred to in subsection (1), make an entry in the register relating to the certificate or order; and (b) when an entry is made in the register under paragraph (a), the mortgage is discharged. (3) If the mortgage referred to in subsection (1) is over a ship and is registered under the Ship Registration Act 1992 ,— (a) a Registrar of Ships must, on production of the certificate or order referred to in subsection (1), make an entry in the New Zealand Register of Ships to the effect that the mortgage has been discharged; and (b) an entry made under paragraph (a) has the same effect as an entry made under section 45 of the Ship Registration Act 1992. (4) If the mortgage referred to in subsection (1) is over quota within the meaning of the Fisheries Act 1996 and is registered under that Act,— (a) the chief executive within the meaning of that Act must, on production of the certificate or order referred to in subsection (1), make an entry in the appropriate register to the effect that the mortgage has been discharged; and (b) an entry made under paragraph (a) has the same effect as an entry made under section 146 of that Act. (5) If the mortgage referred to in subsection (1) is over management rights or a spectrum licence within the meaning of the Radiocommunications Act 1989 and is registered under that Act,— (a) the Registrar of Radio Frequencies must, on production of the certificate or order referred to in subsection (1), make an entry in the Register of Radio Frequencies to the effect that the mortgage has been discharged; and (b) an entry made under paragraph (a) has the same effect as an entry made under section 86 of that Act. (6) If the mortgage referred to in subsection (1) is over a policy within the meaning of section 41 of the Life Insurance Act 1908 and is registered under that Act,— (a) the secretary within the meaning of that Act must, on production of the certificate or order referred to in subsection (1), act under section 51 of that Act; and (b) when the secretary acts under paragraph (a), the mortgage is discharged under sections 50 and 51 of that Act. (7) If the mortgage referred to in subsection (1) is over personal property and is registered under the Personal Property Securities Act 1999 , the certificate or order referred to in subsection (1), on production to the Registrar of Personal Property Securities, has effect as if it— (a) were a financing change statement discharging the registration of the financing statement; and (b) had been registered under section 160 of the Personal Property Securities Act 1999. Compare: 1952 No 51 s 87(2), (4)