New South Wales Consolidated Acts

REGISTRATION OF INTERESTS IN GOODS ACT 1986 - SECT 7

7 Cancellation of registration

(1) The Director-General may cancel the registration of an interest after the date ( "the expiry date") specified in the Register as the date on which the interest ceases to be a registrable interest and may cancel that registration before the expiry date if:

(a) a period of at least 7 years has elapsed since the current registration of the interest commenced, and

(b) (if the expiry date has been varied) a period of at least 7 years has elapsed since the date of the most recent variation of the expiry date.

(1A) The Director-General may cancel the registration of an interest under subsection (1) only if:

(a) the Director-General has given notice in writing to the person registered as the holder of the interest of the Director-General’s intention to cancel the registration unless application is made for variation of the date specified in the Register as the date on which the interest ceases to be a registrable interest, and

(b) the person has not, within the period required by the notice, properly made application for the variation under section 6.

(2) Where:

(a) a registered interest ceases to be a registrable interest before its registration may be cancelled under subsection (1), and

(b) the prescribed documents are lodged with the Director-General, or the Director-General is, in a manner approved by the Director-General, otherwise notified that paragraph (a) applies,

the Director-General shall cancel the registration of the interest.

(3) Where:

(a) an interest, or a purported interest, in goods has been registered,

(b) it appears to the Director-General:

(i) that the interest has ceased to exist, or

(ii) that the interest never existed, and

(c) the Director-General is not authorised by subsection (1) or (2) to cancel the registration,

the Director-General may, by notice in writing given to the person registered as holder of the interest, require the person, within a period (being not less than 14 days) specified in the notice, to show cause why the registration should not be cancelled.

(4) If a notice has been given under subsection (3), the Director-General must, not earlier than the expiration of the period specified in the notice, cancel the registration of the interest to which the notice relates unless:

(a) cause has been shown why the registration should not be cancelled, or

(b) an order of the Tribunal staying or prohibiting the cancellation, or written notice of such an order, has been served on the Director-General.

(4A) A person to whom a notice has been given under subsection (3) may apply to the Tribunal for a review of any decision of the Director-General to cancel the registration of an interest to which the notice relates.

(5) A notice is sufficiently given to a person under subsection (1A) or (3) if it is given by post, and a proper address for that purpose is the address of the person recorded in the Register.

(6) The Director-General need not retain any record relating to an interest for more than 7 years after registration of the interest is cancelled.