### Land Titles Ordinance 《土地業權條例》

37. Form and effect of charges
(Not yet in operation)
(1) A charge on registered land or a registered long term lease shall be effected by—
(a) its registration as an incumbrance; and
(b) the registration of the person in whose favour it is made as its owner.
(2) Where, in relation to a registered charge which is a charge to which Part 8 of the Companies Ordinance (Cap. 622) applies, there is any conflict or inconsistency between the provisions of this Ordinance and the provisions of that Part, then the provisions of that Part (including that Part as read with any other provisions of the Companies Ordinance (Cap. 622) to which it is subject) shall, to the extent of the conflict or inconsistency, as the case may be, prevail over the provisions of this Ordinance. (Amended 28 of 2012 ss. 912 & 920)
(3) For the avoidance of doubt, it is hereby declared that—
(a) a registered charge shall not operate as a transfer of the registered land or the registered long term lease which is subject to the charge but shall have effect as a security only; and
(b) where the registered charge is a mortgage effected by a legal charge within the meaning of section 2 of the Conveyancing and Property Ordinance (Cap. 219), the registration of the charge under this Ordinance shall not affect the operation of section 44(2) of that Ordinance.

38. Second or subsequent charges
(Not yet in operation)
The owner of registered land, or the lessee of a registered long term lease, which is subject to a registered charge may effect a second or subsequent registered charge in the same manner as a first registered charge and—
(a) subject to paragraph (b), for that purpose the provisions of this Ordinance which apply to a first registered charge shall apply to a second or subsequent registered charge in the same manner as those provisions apply to a first registered charge; and
(b) any power of sale expressed or implied in a second or subsequent registered charge shall be subject to all prior registered charges which have not been discharged.

39. Charge on registered charge
(Not yet in operation)
The owner of a registered charge may effect a charge on any interest he has in the registered charge and any charge so effected may be registered as an incumbrance specifying the person in whose favour it is made as the owner.

### Land Titles Ordinance 《土地業權條例》

40. Discharge or partial discharge of registered charge
(Not yet in operation)
A discharge or partial discharge of a registered charge shall be effected by—
(a) in the case of a discharge, the removal of the entry in the Title Register referring to the charge;
(b) in the case of a partial discharge, the alteration of the entry in the Title Register referring to the charge or its removal or substitution by a new entry, as the case may require.

41. Satisfaction of registered charge
(Not yet in operation)
On proof to the satisfaction of the Registrar—
(a) that all money or money’s worth due under a registered charge has been paid to the chargee or by his direction;
(b) that there has been fulfilment of all the conditions to which a registered charge relates;
(c) that part of money or money’s worth due under a registered charge has been paid to the chargee or by his direction; or
(d) that there has been fulfilment of some of the conditions to which a registered charge relates,
the Registrar shall—
(e) in the case of paragraph (a) or (b), remove the entry in the Title Register referring to the charge;
(f) in the case of paragraph (c) or (d), alter the entry in the Title Register referring to the charge or remove the entry or substitute a new entry, as the case may require.

42. Floating charge
(Not yet in operation)
(1) Subject to subsection (3), an instrument providing for a floating charge, whether or not it specifically identifies any registered land or registered long term lease charged, shall not be registrable as a charge.
(2) An instrument providing for a floating charge becomes—
(a) an instrument providing for a fixed charge on the registered land or the registered long term lease intended to be affected; and
(b) registrable as a charge on that land or lease,
upon crystallization of that charge as evidenced by a certificate signed by or on behalf of the chargee.
(3) An instrument providing for a fixed charge and a floating charge shall be registrable as a charge on the registered land or the registered long term lease which is subject to the fixed charge.

43. Transfer
(Not yet in operation)
(1) A transfer of registered land, a registered charge or a registered long term lease shall be effected by the registration of the transferee as—
(a) the owner of the registered land;
(b) the owner of the registered charge; or
(c) the lessee of the registered long term lease,
as the case may be.
(2) The transferee of a registered charge may require the chargor to execute the transfer for the purpose of acknowledging the amount due under the charge at the date of execution of the transfer, and the chargor shall comply with that requirement accordingly.

### Land Titles Ordinance 《土地業權條例》

44. Division of land, etc.
(Not yet in operation)
(1) Subject to subsections (2) and (3), the Registrar shall not accept an application the registration of which will effect a division of registered land unless, in respect of each of the parcels of land to result from the division, the instrument accompanying the application and providing for the division is accompanied by a land boundary plan—
(a) showing and delineating those parcels; and
(b) subject to subsection (4), signed and certified by an authorized land surveyor.
(2) Without prejudice to the generality of subsections (3) and (4)—
(a) subject to paragraph (b), it shall not be necessary for an instrument referred to in subsection (1) to be accompanied by a land boundary plan referred to in subsection (1) where the division of registered land concerned is provided for by a will or judgment and that instrument is the grant of probate in respect of the will, or the judgment, as the case may be;
(b) it shall be necessary for an instrument accompanying an application presented for the registration of a dealing to effect the passing of title to any parcel of land resulting from that division to be accompanied by such a land boundary plan.
(3) It shall not be necessary for an instrument referred to in subsection (1) or (2)(b) to be accompanied by a land boundary plan referred to in that subsection if the instrument was executed before the commencement of section 30 of the Land Survey Ordinance (Cap. 473).
(4) It shall not be necessary for a land boundary plan—
(a) accompanying an instrument referred to in subsection (1) or (2)(b); and
(b) which has been prepared by the Government,
to be signed and certified by an authorized land surveyor.

45. Implied covenants for title
(Not yet in operation)
(1) For the avoidance of doubt, it is hereby declared that—
(a) the provisions of this Ordinance shall not prejudice the operation of section 35 of the Conveyancing and Property Ordinance (Cap. 219); and
(b) no reference to a covenant implied under that section shall be entered in the Title Register.
(2) Where a covenant implied under section 35 of the Conveyancing and Property Ordinance (Cap. 219) is to be excluded, varied or extended in a transfer of registered land or a registered charge, express reference shall be made to the covenant so excluded, varied or extended in the instrument supporting the transfer or registered charge.
(3) Where a transfer or charge is supported by an instrument mentioned in subsection (2), then the registration of the transfer or charge shall of itself effect the registration of the covenant implied under section 35 of the Conveyancing and Property Ordinance (Cap. 219) as varied or extended by the transfer or charge.