Withdrawal and removal of caution

(1) A caution may be withdrawn by the cautioner or removed by order of the court or, subject to sub-section (2), by order of the Registrar. (2) (a) the Registrar may, on the application of any person interested, serve notice on the cautioner warning him that his caution will be removed at the expiration of the time stated in the (b) if at the expiration of the time stated the cautioner has not objected, the Registrar may remove the caution; or (c) if the cautioner objects to the removal of the caution, he shall notify the Registrar in writing of his objection within the time specified in the notice, and the Registrar, after giving the parties an opportunity of being heard, shall make such order as he thinks fit, and may in the order make provision for the payment of costs. 84 (3) On registration of a transfer by a chargee in exercise of his powers of sale under section 78, the Registrar shall remove any caution which purports to prohibit any dealing by the chargor and which was registered after the charge by virtue of which the transfer has been effected. (4) On the withdrawal or removal of a caution, its registration shall be cancelled, but any liability of the caution previously incurred under section 134, shall not be affected by the cancellation.