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TRANSFER OF LAND ACT 1893 - SECT 104K

TRANSFER OF LAND ACT 1893 - SECT 104K

104K .         Mortgage of carbon covenant

        (1)         The requirements of subsections (2) and (3) are in addition to the requirements of Part IV Division 3 and any other provision of this Act relevant to the mortgage of land.

        (2)         A person shall not be a mortgagee of a carbon covenant unless the person is also a mortgagee of the relevant carbon right.

        (3)         If a carbon covenant applies in respect of Crown land, a mortgage of the carbon covenant shall not be registered unless there is compliance with section 18 of the Land Administration Act 1997 .

        [Section 104K inserted: No. 56 of 2003 s. 14.]