Forestry Act 1959

This section applies to the transfer of the interest constituted by the mortgage of a plantation licence or plantation sublicence.

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

Without limiting subsection (2), the mortgage transferee takes reasonable steps under the subsection if the mortgage transferee 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 mortgage transferee must, for 7 years after the transfer of the mortgage is registered, and whether or not there is registered a further 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 mortgage transferee in complying with subsection (2).

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

to advise the registrar about the steps taken by the mortgage transferee 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 mortgage transferee must comply with a request under subsection (5) unless the mortgage transferee has a reasonable excuse.Maximum penalty for subsection (6)—20 penalty units.