Commissioner may cancel registration
22 Commissioner may cancel registration
If a person is registered under section 15 as the holder of a security interest in respect of registrable goods and it appears to the Commissioner that —
the person was not, when the application for registration was made, the holder of such a security interest; or
the security interest has been discharged or extinguished and the person has failed to comply with section 18,
the Commissioner, by notice in writing in the approved form given to the person, may require the person to show cause within 14 days after the giving of the notice why the registration should not be cancelled.
If a person fails to show cause as required by a notice under subsection (1), the Commissioner, in his discretion, may cancel the registration of the person and must note in the register the date on which, and time at which, the registration was cancelled.
For the purposes of subsection (1), a notice shall be deemed to have been given to a person when it is posted by prepaid post to the person at the person’s address shown in the register.
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