Chattel Securities Act 1987

If a registered security interest is discharged or extinguished, the person who was the holder immediately before the discharge or extinguishment, not later than 14 days after the person knows or ought to reasonably know that he or she has ceased to be the holder of that security interest, shall make application to the Commissioner in or to the effect of the approved form for the cancellation of the registration.

Penalty: $500.