Crown Land Management Act 2016

On the recording in a folio of the Register of the first transfer of the whole or a part of a new incomplete purchase after the commencement of this clause, all money owing to the Crown in respect of the new incomplete purchase (whether or not payable by instalments which have not then become due) becomes due and payable.

An amount due under this clause and unpaid is payable by the holder for the time being of the new incomplete purchase.

An amount due under this clause bears interest at the following rates from the date the amount becomes due to the date of payment—

for the first 3 months—a rate which is the same as the rate for the time being applying to the payment of the purchase money for the new incomplete purchase,

after that—the rate that is prescribed by the regulations for the time being for the purposes of this paragraph.

If any of these amounts has not been paid within 3 months of being demanded—

the Minister may declare that the new incomplete purchase is forfeited and any money paid in connection with the purchase may (by the declaration) be forfeited to the Crown, and

the transfer becomes voided on the forfeiture.

In this clause—

a devise under a will,

the taking of an interest under an intestacy,

survivorship of a joint tenant,

a discharge of mortgage,

a transfer to the Official Trustee in Bankruptcy,

a transfer by order of the Federal Circuit and Family Court of Australia (Division 1) or under a provision of the Family Law Act 1975 of the Commonwealth (except a transfer to a person who is not a party to, or a child of, the marriage),

a transfer by order of any other court (except a transfer effected under a writ of execution) if the Minister has directed that this clause is not to apply to the transfer.