| (1) |
A superior court which has made a restraint order in respect of immovable property may at any time, with a view to ensuring the payment to the State— |
| (a) |
where a confiscation order has not been made, of an amount equal to the most recent value of the immovable property; or |
| (b) |
where a confiscation order has been made, of an amount not exceeding the amount payable under the confiscation order, |
order the registrar of deeds concerned endorse anyone or more of the restrictions contemplated in subsection (2) on the title deed of the immovable property.
| (2) |
An order contemplated in subsection (1) may be made in respect of the following restrictions, namely— |
| (a) |
that the immovable property shall not without the consent of the superior court be mortgaged or otherwise encumbered; |
| (b) |
that the immovable property shall not without the consent of the superior court be attached or sold in execution; and |
| (c) |
that the immovable property shall not without the consent of the superior court— |
| (i) |
vest in the Master of the Supreme Court or trustee concerned, as the case may be, when the estate of the owner of that immovable property is sequestrated; or |
| (ii) |
where the owner of that immovable property is a company or other juristic person which is being wound up, form pan of the assets of such company or juristic person, |
if the owner of that immovable property has not made the payment referred to in that subsection to the State.
| (3) |
In order to give effect to subsection (1), the registrar of deeds concerned shall— |
| (a) |
make the necessary entries in his registers and the necessary endorsement on the office copy of the title deed, and thereupon any such restriction shall be effective against all persons except, in the case of a restriction contemplated in paragraph (b) of subsection (2), against any person in whose favour a mortgage bond or other charge was registered against the title deed of immovable property prior to the endorsement of the restriction on the title deed of the immovable property, but shall lapse on the transfer of ownership of the immovable property in question; |
| (b) |
when the original of the title deed is produced to him, make the necessary endorsement thereon. |
| (4) |
Unless the superior court directs otherwise, the custody of immovable property on the title deed of which a restriction contemplated in paragraph (c) of subsection (2) was endorsed shall vest as from the date on which— |
| (a) |
the estate of the owner of the immovable property is sequestrated; or |
| (b) |
where the owner of the immovable property is a company or other juristic person, such company or juristic person is being wound up, |
in the person in whom the said custody would have vested if such a restriction were not so endorsed.
| (5) |
Where the superior court granted its consent in respect of a restriction contemplated in paragraph (c) of subsection (2) and endorsed on the title deed of immovable property, the immovable property shall be deemed— |
| (a) |
if the estate of the owner of the immovable property was sequestrated, to have vested in the Master of the Supreme Court or trustee concerned, as the case may be, as if such a restriction were not so endorsed; or |
| (b) |
if the owner of the immovable property is a company or other juristic person which is being wound up, to have formed part of the assets of such company or juristic person as if such a restriction were not so endorsed. |
| (6) |
Any person affected by an order contemplated in subsection (1) may at any time apply for the rescission of the order. |
| (a) |
The superior court which made an order contemplated in subsection (1)— |
| (i) |
may at any time rescind the order; or |
| (ii) |
shall rescind the order if the relevant restraint order is rescinded or the amount payment of which is ensured by the order has with the consent of that court been paid into court. |
| (b) |
If such order is rescinded, the superior court shall direct the registrar of deeds concerned to cancel any restriction endorsed by virtue of that order on the title deed of immovable property, and that registrar of deeds shall give effect to any such direction. |
Basic Conditions of Employment Act, 1997
