Northern Territory Consolidated Acts

REGISTRATION OF INTERESTS IN MOTOR VEHICLES AND OTHER GOODS ACT - SECT 16

(1) Where -

(a) within 6 months after the commencement of this section, in relation to motor vehicles, or within 6 months after the commencement of regulations prescribing other goods to which this Act applies, a person who holds a registrable interest sustains a loss by reason of the operation of this Act;

(b) there was not, immediately before that day, a notice in force under section 13(1) relating to goods of that class; and

(c) the creditor did not, before sustaining the loss, apply for registration of the registrable interest,

that person may apply to the Registrar for an order awarding compensation for that loss.

(2) Where the Registrar is satisfied, on an application under subsection (1), that a person failed to register the registrable interest under section 8 by reason of circumstances -

(a) beyond the applicant's control; or

(b) from which it might reasonably be inferred that the person was not aware of the necessity to register the interest in order to avoid sustaining a loss by reason of the operation of this Act,

the Registrar may make an order awarding the applicant compensation for that loss.