(1) On the making of an unexplained wealth order against a person, all the
interests of the person in property are, while the amount payable under the
order remains unpaid, charged in favour of the State to the extent necessary
to secure payment of the amount.
(2) A charge created under subsection (1)
—
(a) is subject to every encumbrance on the property that came into
existence before the charge and that would, apart from this paragraph, have
priority over the charge; and
(b) has priority over all other encumbrances;
and
(c) is not affected by any change of ownership of the interest charged,
unless the charge stops having effect under subsection (3) ; and
(e) the interest charged is sold to a
purchaser for sufficient consideration who, at the time of purchase, had no
notice of the charge;
(f) a hardship order is made excluding property from
the operation of the charge.
(4) If a law, whether or not a law of the State,
provides for the registration of title to, interests in, or charges over,
property charged under subsection (1) , the public trustee or an
appropriate officer may cause the charge to be registered under that law.
(6) The public trustee or the appropriate officer may lodge
a request with the registrar of titles for the registration of the charge.
(7) The request must be in the appropriate form.
(8) The registrar of titles
must register the charge over the land on lodgement of—
(a) the request; and
(b) a certificate of the public trustee or the appropriate officer stating
there is a charge over the land under this section for the amount payable
under the unexplained wealth order that is unpaid.
(9) As soon as practicable
after the amount payable under the unexplained wealth order has been paid or
the charge otherwise stops having effect under subsection (3) , the public
trustee or the appropriate officer must lodge a request with the registrar of
titles in the appropriate form to release the charge.
(10) The registrar of
titles must register the release of the charge over the land.
(11) In this
section—
"relevant person" means the person against whom the unexplained wealth order
is made.