(1) The chief executive must release the statutory charge over a
retirement village’s land if the chief executive is satisfied—
(a) the
scheme operator has complied with section 124 ; and
(b) having regard to the
objections made under the section, it is appropriate to release the charge
over the land.
(2) If the chief executive releases a statutory charge under
subsection (1) , the chief executive must give the registrar of titles written
notice of the release of the charge.
(3) On receipt of the notice, the
registrar of titles must register the release of the charge over the land.
