(1) A person claiming a legal or equitable interest in a
petroleum title may lodge with the Secretary a caveat, accompanied by the
prescribed fee for the lodgment of a caveat, directing the Secretary not to
register any transfer of the petroleum title otherwise than in accordance with
the provisions of the caveat.
(2) Unless sooner withdrawn, a caveat remains
in force for the period of 3 months from the date on which it is lodged.
(3)
While a caveat remains in force, a transfer of the petroleum title may not be
registered in contravention of the provisions of the caveat otherwise than
pursuant to an order of the Supreme Court directing the Secretary to register
the transfer.
(4) At the expiration of the period for which a caveat is in
force, a transfer of the petroleum title to which it relates is to be
registered unless, before the expiration of that period, the Secretary is
served with an order of the Supreme Court prohibiting the Secretary from
registering the transfer.
