Northern Territory Consolidated Acts

REGISTRATION OF INTERESTS IN MOTOR VEHICLES AND OTHER GOODS ACT - SECT 17

(1) Where -

(a) an application is made to register a registrable interest under section 8;

(b) a certificate issued under section 12(1) does not disclose the registrable interest (whether or not the registrable interest has been registered) resulting in a lack of notice being given; and

(c) as a result of the lack of notice, the operation of section 13, in relation to a purchase of the goods, causes the creditor under the registrable interest to sustain a loss,

the Registrar may, on application by the creditor, make an order awarding the creditor compensation for that loss.

(2) Compensation is not payable under this section if the lack of notice referred to in subsection (1) resulted from -

(a) the prime identifier of the goods concerned being incorrectly specified in the application for registration of the registrable interest concerned;

(b) the fact that the interest concerned was not registered before the end of the next business day following the making of the application for registration;

(c) the cancellation in accordance with this Act of the registration of the registrable interest concerned; or

(d) the rejection of the application for registration of the registrable interest because it was not properly made.