South Australian Consolidated Acts

SOUTH AUSTRALIAN CO-OPERATIVE AND COMMUNITY HOUSING ACT 1991 - SECT 65

65—Creation of charge

        (1)         SAHT may, in order to secure the enforcement of an agreement under Division 3 that applies in relation to subsidised premises, impose a charge under this Division over real property.

        (2)         For the purposes of the imposition of a charge under subsection (1), SAHT may deliver to the Registrar-General a notice, in a form determined by the Registrar-General—

            (a)         setting out or incorporating the terms of the charge; and

            (b)         setting out the real property over which it is to exist; and

            (c)         requesting the Registrar-General to make a notation under this section in the Register Book.

        (3)         The notice may provide for the imposition of the charge over the whole of an allotment notwithstanding that the subsidised premises only comprise a part of that allotment.

        (4)         On receipt of a notice under subsection (2), the Registrar-General must, in relation to the real property referred to in the notice, enter an appropriate notation in the Register Book.

        (5)         When an entry is made under subsection (4), a charge over the real property is created.

        (6)         While a charge exists over real property, the Registrar-General must not register an instrument affecting the property unless—

            (a)         the instrument was executed before the charge was created or relates to an instrument registered before the charge was created; or

            (b)         the instrument is an instrument of a prescribed class; or

            (c)         SAHT consents to the registration in writing; or

            (d)         the instrument is expressed to be subject to the charge; or

            (e)         the instrument is a duly stamped conveyance that relates to the transfer or sale of the real property under section 66.

        (7)         Subject to this Division, an instrument registered under subsection (6)(a), (b), or (c) has effect, in relation to the charge, as if it had been registered before the charge was created.

        (8)         If an instrument is registered under subsection (6)(e), the charge will be taken to be cancelled and the Registrar-General must make the appropriate entries in the Register Book to give effect to the cancellation.

        (9)         SAHT may, on its own initiative, by further notice to the Registrar-General under this section, cancel the charge.

        (10)         Where SAHT delivers a notice to the Registrar-General under this section, SAHT must send a copy of the notice to the co-operative.

        (11)         In this section—

"allotment" means the whole of the land comprised in a certificate of title.