[1]           These are opposed motion proceedings in which the applicant, a property owning company, seeks a declaration to the effect that the first respondent, a large bank, has waived its rights to any monies or debt owing by the applicant, in respect of which monies or debt the applicant had given collateral security in the form of a covering bond over certain immovable property in favour of first respondent.

[2]           Further relief sought by the applicant is that the second respondent, the registrar of deeds, be directed to cancel and annul the said covering bond in the title deeds of the property.

[3]           As is customary the registrar of deeds does not oppose the relief sought, merely pointing out that, from a registration point of view, there are no objections to the order being granted as prayed.