Charge on property other than land, registration of
127 Charge on property other than land, registration of
The DPP, the CCC or the Public Trustee may lodge a memorial of a charge on property of a kind other than land under the Personal Property Securities Act 2009 (Commonwealth) or any enactment that provides for the registration of interests in property of that kind, and the memorial may be registered in accordance with that Act or the enactment.
Anyone who purchases or otherwise acquires an interest in the property after the memorial is lodged is taken to have notice of the charge, for the purposes of section 124(1)(e), at the time of the purchase or acquisition.
If the charge ceases to have effect, the DPP, the CCC or the Public Trustee may withdraw the memorial in accordance with the Personal Property Securities Act 2009 (Commonwealth) or the enactment, and the registration of the memorial may be cancelled in accordance with that Act or the enactment.
[Section 127 amended: No. 42 of 2011 s. 16; No. 10 of 2018 s. 73.]
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