Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A statutory lien ceases to have effect in the following cases, and not otherwise:
(a) when there is no longer any outstanding amount covered by the statutory lien;
(b) when the aircraft is sold under section 67;
(c) when an authorised employee directs in writing that the statutory lien ceases to have effect.
(2) When a lien ceases to have effect, the Registrar must make an entry in the Register as prescribed by the regulations.
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