reg 17
In forceDischarge of registered security interests
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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