Effect of caveat on registration of particular dealing
81 Effect of caveat on registration of particular dealing
(1) If, after accepting the caveat, the Minister receives an instrument purporting to deal with the geothermal authority or geothermal authority application to which the caveat relates (the dealing), the Minister:
(a) must give the caveator written notice of the receipt of the dealing; and
(b) may enter the dealing in the register only after the caveat ceases to have effect in relation to the dealing.
The caveat ceases to have effect in relation to the dealing:
(a) at the end of 30 days after notice is given to the caveator under subsection (1)(a); or
(b) if a notice of continuance of the caveat is accepted under subsection (3)(b) – on acceptance of the notice.
After the caveator receives a notice under subsection (1)(a):
(a) the caveator may lodge with the Minister a written notice of the continuation of the caveat; and
(b) the Minister must accept the notice of continuance if the caveator:
(i) lodges the notice before the end of the period mentioned in subsection (2)(a); and
pays any fee prescribed for the lodgment.
This Act’s bill:Explanatory statementSecond reading speech
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