DUTIES ACT 2001 - SECT 594 Mortgage duty on caveats

DUTIES ACT 2001 - SECT 594

594 Mortgage duty on caveats

(1) This section applies if—

(a) before 1 July 2008, mortgage duty was imposed on a mortgage but was not paid; and

(b) on or after 1 July 2008, a caveat claimed an interest in land or a water allocation under the mortgage.

(2) On and from 1 July 2008, section 268 continues to apply to impose mortgage duty on the caveat.

(3) Mortgage duty is imposed on the caveat at the rate applicable at the time the duty was imposed on the mortgage.