Section 3 (1) (b) (ii) BEFORE amended by BC Reg 171/2019, effective November 15, 2019.
(ii) in the case of an electronic plan, complies with section 168.721 of the Land Title Act.
Section 3 (2) (b) (ii) BEFORE amended by BC Reg 171/2019, effective November 15, 2019.
(ii) in the case of an electronic plan, complies with section 168.721 of the Land Title Act,
Section 4 (2) and (3) BEFORE amended by BC Reg 66/2023, effective March 8, 2023.
(2) When the amount owing to the security holder is greater than the market value of his security interest and there is no collateral security other than the covenant of the purchaser or borrower to pay the amount of the debt, the security interest shall be deemed to be fully paid, discharged and satisfied on payment to the security holder of the market value of the security interest.
(3) When the amount owing to the security holder is greater than the market value of his security interest and there is collateral security other than the covenant of the purchaser or borrower to pay the amount of the debt, and whether that collateral is by way of security on other property or a guarantee of a third party or otherwise, the compensation shall not fully discharge the debt and the court shall determine the balance remaining and the manner in which it is to be repaid.