Application—how made effective
98 Application—how made effective
The registrar-general may prepare a notice offering the land for sale, and shall limit and appoint a time, not less than 1 month from the date of notification of the offer under the Legislation Act 2001, upon or after which the registrar-general may issue to the applicant an order for foreclosure, unless in the interval a sufficient amount has been realised by the sale of the land to satisfy the principal and interest moneys due, and all expenses occasioned by the sale.
An offer under subsection (1) is a notifiable instrument.
The registrar-general must also give additional public notice of the offer.
Public notice means notice on an ACT government website or in a daily newspaper circulating in the ACT (see Legislation Act, dict, pt 1). The requirement in s (3) is in addition to the requirement for notification on the legislation register as a notifiable instrument.
Every such order for foreclosure entered in the register shall have the effect of vesting in the mortgagee all the estate and interest of the mortgagor in the land mentioned in the order free from all right and equity of redemption on the part of the mortgagor or of any person claiming through or under him or her.
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