503. Right of consolidation in relation to registered land.

503.     Right of consolidation in relation to registered land.

A chargee who has the right of consolidation in relation to a registered charge1 may apply to the registrar for an entry to be made in respect of that right in the individual register in which that charge is registered2. The registrar must make an entry in the individual register in such terms as he considers appropriate to give effect to such an application3.