(1) No mortgage shall be enforceable unless-

(a) it is evidenced by a writing signed by the mortgagor or by his agent authorised in writing to sign on his behalf; or

(b) it is excused from the necessity of a writing by the operation of the rules of equity including the rules relating to fraud, duress, hardship, unconscionability and part performance; or

(2) Every writing evidencing a mortgage shall be deemed to be an instrument which may be registered in accordance with the Land Registry Act, 1962 (Act 122).

(3) A registrar empowered to register instruments in accordance with the Land Registry Act, 1962 (Act 122) may, in addition to any power given to him by that Act, refuse to register any writing evidencing a mortgage unless the writing-

(a) states the name and address of each mortgagor and each mortgagee;

(b) states the nature of the mortgagor's interest in the property which is mortgaged and the extent to which that interest is subject to the mortgage;

(c) identifies the mortgaged property by reference to its location and boundaries (which may be by reference to an official plan) or to a previously registered writing describing the same property;

(d) where the mortgage secures the payment of money, states the date on which payment is due and states the principal sum lent or to be lent or if the sum to be lent is indeterminate the writing so states, and if further advances are to be made and secured by the mortgage the writing so states.

(4) Every writing evidencing the transfer or encumbrance of a mortgage or any interest in a mortgage shall be deemed to be an instrument which may be registered in accordance with the Land Registry Act, 1962 (Act 122).

(5) Every writing evidencing a discharge of a mortgage or any part of a mortgage in accordance with section 22 shall be deemed to be an instrument which may be registered in accordance with the Land Registry Act, 1962 (Act 122), and such a writing shall be registered without payment of stamp duty.