Registration of charge is notice
6 Registration of charge is notice
If—
a charge under clause 3 is created on land of a particular kind and the provisions of any law of the State provide for the registration of title to, or charges over, land of that kind, and
the charge is so registered,
a person who purchases or otherwise acquires the land after the registration of the charge is, for the purposes of clause 4, taken to have notice of the charge.
A person who is taken to have notice of a charge under this clause is liable to pay the amount secured by the charge, or so much of it as remains outstanding, as if the person were the person originally liable for the amount.
This clause does not have the effect of discharging the liability of a person who was originally or previously liable for the amount secured by the charge.
This Act’s bill:Explanatory memorandumSecond reading speech
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