Australian Capital Territory Current Acts

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COMMUNITY TITLE ACT 2001 - SECT 95

Notice of intention not to proceed to enforce mortgage

    (1)     A mortgagee in possession of a lot included in a community title scheme commits an offence if the mortgagee—

        (a)     decides not to enforce the mortgage; and

        (b)     fails to immediately give written notice of the decision to the body corporate.

Maximum penalty: 20 penalty units.

    (2)     An offence against this section is a strict liability offence.

    (3)     On giving the written notice, the mortgagee ceases to be a mortgagee in possession of the lot and is not the owner of the lot under this Act.


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