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LAND ADMINISTRATION ACT 1997 - SECT 16

LAND ADMINISTRATION ACT 1997 - SECT 16

16 .         Land held on conditional fee simple (s. 75(1)), memorial of charge to secure performance of conditions

        (1)         If the Minister transfers Crown land in fee simple under section 75(1) subject to the condition that the due performance of other conditions by the holder of the freehold in the relevant land is to be secured by a charge on that land registered under this section, the Minister may lodge a memorial in an approved form with the Registrar.

        (2)         When the Registrar has registered a memorial and noted the Register accordingly, the due performance of conditions referred to in subsection (1) is a charge on the subject land for the benefit of the Minister.

        (2A)         If the charge secures the due performance of conditions concerning a specified use under section 75(1) and those conditions are varied under that section, the charge is to be taken to secure the performance of the conditions as so varied.

        (3)         If a registered memorial referred to in subsection (2) —

            (a)         states that no dealings or other instruments are to be registered in respect of the subject land while that memorial remains registered under this section, that memorial has effect accordingly; or

            (b)         does not so state, that memorial is merely notice of its contents to those concerned with the subject land.

        (4)         If any default is made in respect of the performance referred to in subsection (2) while the relevant memorial remains registered, the Minister has the same powers of sale over the subject land as are given by the TLA to a mortgagee under a mortgage in respect of which default has been made in the payment of principal.

        (5)         If the Minister determines that a charge in respect of which a memorial referred to in subsection (2) is registered is no longer required, the Minister may request the Registrar to cancel that memorial.

        (6)         On receiving a request made under subsection (5), the Registrar must cancel the relevant memorial and by doing so remove the charge from the subject land.

        (7)         In this section —

        subject land means land referred to in subsection (1).

        [Section 16 amended: No. 30 of 2018 s. 146.]