Forestry Act 1959

This section applies in relation to the grant of a mortgage of a plantation licence or plantation sublicence.

Before the mortgage is lodged for registration, the mortgagee under the mortgage (the original mortgagee) must take reasonable steps to ensure the person who executed the mortgage as mortgagor is identical with the person who is, or who is about to become, the plantation licensee or plantation sublicensee.

Without limiting subsection (2), the original mortgagee takes reasonable steps under the subsection if the original mortgagee complies with practices included in the manual of land title practice under the Land Title Act 1994, section 9A for the verification of identification of mortgagors.

The original mortgagee must, for 7 years after the mortgage is registered, and whether or not there is registered a transfer of the interest constituted by the mortgage—

keep, in the approved form, a written record of the steps taken under subsection (2); or

keep originals or copies of the documents and other evidence provided to or otherwise obtained by the original mortgagee in complying with subsection (2).

The registrar of titles may, whether before or after the registration of the mortgage, and whether or not there has been registered a transfer of the interest constituted by the mortgage, ask the original mortgagee—

to advise the registrar about the steps taken by the original mortgagee under subsection (2); and

to produce for the inspection of the registrar the written record mentioned in subsection (4)(a) or the originals or copies mentioned in subsection (4)(b).

The original mortgagee must comply with a request under subsection (5) unless the original mortgagee has a reasonable excuse.Maximum penalty for subsection (6)—20 penalty units.