(1) The Bank may exercise the powers under subsection (2), on evidence being given to its satisfaction with respect to any charge registered under this Part -
(a) that the debt in relation to which the charge was created has been paid or satisfied in whole or in part, or
(b) that part of the property charged has been released from the charge or has ceased to form part of the ICAV’s property,
and, where the satisfaction or release has not been signed by or on behalf of the chargee, after giving notice to the person who, for the time being, stands registered as the person entitled to such charge or to the judgment creditor, as the case may be.
(2) Those powers are to enter on the register a memorandum -
(a) of satisfaction in whole or in part, or
(b) of the fact that part of the property has been released from the charge or has ceased to form part of the ICAV’s property,
as the case may be.
(3) Where the Bank enters such a memorandum of satisfaction in whole, it shall, if required, f
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