(a) the mortgaging of a lot or an interest in a
lot; and
(b) an amendment of a mortgage mentioned in paragraph (a) .
(2)
Before the instrument of mortgage or amendment of mortgage is lodged for
registration, the mortgagee under the instrument (the
"original mortgagee" ) must take reasonable steps to ensure the person who is
the mortgagor under the instrument is identical with the person who is, or who
is about to become, the registered proprietor of the lot or the interest in a
lot.
(2A) For subsection (2) , a person is the mortgagor under an instrument
of mortgage or amendment of mortgage if the person executes the instrument as
mortgagor, including, if the instrument is an
electronic conveyancing document, through a subscriber digitally signing the
instrument under the Electronic Conveyancing National Law (Queensland) .
(2B)
Also, for subsection (2) , a person is the mortgagor under an instrument of
mortgage or amendment of mortgage if the instrument is an
electronic conveyancing document and the person signs, as mortgagor, a
document that under the participation rules under the Electronic Conveyancing
National Law (Queensland) —
(a) is required as a supporting document for the
instrument of mortgage or amendment of mortgage; and
(3) Without limiting subsection (2) , the
original mortgagee takes reasonable steps under the subsection if the
original mortgagee complies with practices included in the manual of land
title practice under section 9Afor the verification of identification of
mortgagors.
(4) The original mortgagee must, for 7 years after the instrument
is registered, and whether or not there is registered a transfer of the
interest constituted by the mortgage—
(a) keep, in the approved form, a
written record of the steps taken under subsection (2) ; or
(b) keep
originals or copies of the documents and other evidence provided to or
otherwise obtained by the original mortgagee in complying with subsection (2)
.
Penalty—
Maximum penalty—20 penalty units.
(5) The registrar
may, whether before or after the registration of the instrument, and whether
or not there has been registered a transfer of the interest constituted by the
mortgage, ask the original mortgagee—
(a) to advise the registrar about the
steps taken by the original mortgagee under subsection (2) ; and
(b) to
produce for the registrar’s inspection the written record mentioned in
subsection (4) (a) or the originals or copies mentioned in subsection (4) (b)
.