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reg 17

Discharge of registered security interests

In force
Part 4Security interests

17 Discharge of registered security interests

(1)

For the purposes of Schedule 4 clause 12(1) of the Act, the interest of a person holding a security interest, or a part interest in a security interest, is prescribed.

(2)

For the purposes of Schedule 4 clause 12(2) of the Act, the Minister may discharge the registration of a security interest—

(a)

on account of an order of a court or tribunal constituted by law;

or

(b)

if a power of sale has been exercised under

Schedule 4 clause 13 of the Act in accordance with these regulations; or

(c)

if otherwise required by or under any other Act or law.

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