—(1) Where the title to any unregistered land with any subsisting caveat registered under the Registration of Deeds Act (Cap. 269) is to be surrendered to the President for the reissue of one or more fresh titles, the owner of the land shall —
serve by registered post a notice on each caveator —
informing him of the intention to surrender the land and that the surrender may be accepted 3 weeks after service of the notice on him; and
advising him, if he has not already done so, to lodge with the Registrar a caveat in accordance with section 115 in respect of his interest in the land; and
after serving every such notice, immediately file a statutory declaration with the Registrar containing evidence of such service.
(2) Upon the expiration of 3 weeks after the notice under subsection (1) is served in accordance with that subsection or, where more than one notice is served, after the last notice is so served, the Registrar, on being satisfied that the notice has been duly served, shall endorse his consent on the surrender.
(3) Upon the endorsement of the consent of the Registrar on the surrender, the surrender may be accepted by the President and when the surrender is accepted for provisional registration after it is lodged in the Registry of Deeds, the land comprised in the surrender shall be freed and discharged of any subsisting caveat registered against the land as at the date of the surrender.
(4) Upon the provisional registration of the surrender by the Registrar of Deeds, the respective interests protected by each of the caveats affected shall cease to be an interest claimed against the land or any part thereof notwithstanding that the surrender may not have been finally registered by the Registrar of Deeds.
(5) After the acceptance of the surrender for provisional registration, the Registrar of Deeds shall expeditiously finalise the registration of the surrender and enter in the Index to Caveat maintained for the purposes of the Registration of Deeds Act that all registration entries of the caveats subsisting immediately prior to the date of the surrender are cancelled.
(6) When the President has accepted the surrender and the Registrar of Deeds has notified the Collector that the surrender has been finally registered under subsection (5), the fresh title may be issued by the President.