The Electronic Register and the Termination of Mandates

The Electronic Register (Termination of Mandates) Regulations came into force on the 2nd December, 2016 and is currently being mantained by the Chief Notary of the Government. The register includes all the applications submitted for the termination of special mandates on immovable property and general mandates.

This is an innovative approach, striving towards more efficient means as it can also be accessed online through a link. In addition, it also eliminated additional fees and bureaucracy as there is no longer the need to notify the court for the termination of mandates, but one can do so by filling in this particular application.

Each application costs €50 and shall be submitted by the mandatory or any person having an interest in the mandate. This application should be filed on workdays before 3pm, either physically through particular forms or online, so that it will be updated in the register on the same day. The moment such application is put in the register, Notaries public and the banks will be notified automatically with the termination of mandates. The register records the name, surname and ID card of the mandator, whilst it also inputs the date and time of the application for termination. In fact, one search easily by inserting the name and surname or through the ID card.

Finally, no action for damages shall lie against the Chief Notary for failure to comply with any provisions of these regulations, except on the basis of willful acts done in bad faith and gross negligence.

This shall not be construed to be as advice but shall merely serve as a brief description of the electronic register. If you would like to get to know more about this please do not hesitate to contact us on [email protected].