Queensland Consolidated Regulations Queensland Consolidated Regulations(1) A mortgagor must not assign or dispose of property that is subject to a mortgage without the credit provider's consent or the authority of the Court under subsection (3).
Maximum penalty--50 penalty units.
(2) The credit provider must not unreasonably withhold consent or attach unreasonable conditions to the consent (but a condition requiring security over property of an equivalent kind and value is not to be regarded as unreasonable).
(3) The Court may, on application by a mortgagor, authorise the mortgagor to dispose of mortgaged property on conditions determined by the Court if--
(a) the credit provider fails within a reasonable time to reply to a request for consent to do so by the mortgagor; or
(b) consent is unreasonably withheld, or unreasonable conditions are attached to the consent.