Cap. 503 Art. 40Loss of original mortgage deed.

(1)In case of loss of any registered mortgage the Director

General shall, at the request of the mortgagee alone, or together with the debtor, reconstitute the original mortgage and certify this instrument as a reconstituted original of the mortgage. The Director General shall only accede to such a request upon the production by the party making the request of a sworn declaration to the effect that the original has been lost.

(2) In such a case the Director General shall make a note in the Malta Aircraft Register that a reconstituted mortgage has been issued, reciting at whose request such a reconstituted instrument has been issued.

(3) In case of loss of any original mortgage, the Director General may enter any transfer or discharge of mortgage if the mortgagee produces a sworn declaration that he is the holder of the mortgage, the instrument of which has been lost, and that he is discharging or transferring the said mortgage in virtue of the sworn declaration.

(4) In such a case the Director General shall, on production of the said sworn declaration, treat such declaration as the mortgage and shall follow the procedure specified in this Act for the transfer or discharge of the mortgage; the Director General shall make a note in the Malta Aircraft Register that the transfer or discharge of the mortgage has taken place in virtue of a sworn declaration.