Rule 116 – Power to charge and trust to secure money

 (1) A trust for securing money and a power to charge or other power vested in any person virtute officii shall be registered as a burden by reference to the instrument creating the trust or power, and no charge under the trust or power shall be registered until it is shown to the satisfaction of the Authority that the person raising the money under the trust or power is the person authorised to do so by the instrument. 

(2) A person securing money under such a trust or power shall do so by creating a registered charge in the manner prescribed by Section 76 of the Act and not otherwise.