Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A person claiming an interest in a ship or in a share in a ship under any unregistered instrument, or by operation of law or otherwise, may lodge with the Registrar a caveat in accordance with the approved form forbidding the entry in the relevant register of any instrument relating to any dealing with that ship or share until after notice of the intended dealing is given to the caveator.
(1A) Subsection (1) does not apply to an interest in a ship, or in a share in a ship, that is a PPSA security interest.
(2) Every caveat shall state the name and address of the caveator and shall contain a sufficient description to identify the ship or the share in the ship in which the caveator claims an interest and the interest claimed by the caveator and shall be signed by the caveator or by his or her solicitor or agent.
(3) A caveat shall not be entered in the relevant register by the Registrar unless there is specified in the caveat an address in Australia at which notices relating to the caveat or to proceedings in respect of the caveat may be served.
(4) Where a person entitled to withdraw a caveat notifies the Registrar, by lodging a notice in the approved form, that the name of the caveator or the address for service of notices on the caveator has been changed from the name or address specified in the caveat, the Registrar shall record on the caveat and in the relevant register the name or address so notified and that name or address shall thereupon be the name of, or the address for service of notices on, the caveator.
(5) Every notice relating to a caveat or to any proceeding in respect of a caveat shall be deemed to be duly served if served in accordance with a manner of service specified in the regulations:
(a) at:
(i) the address stated in the caveat in pursuance of subsection (3); or
(ii) if an address has been notified under subsection (4)--the address, or the last address, so notified; or
(b) if the caveat was signed by a solicitor or agent--at the office of that solicitor or at the address of that agent.
(6) A caveat may be withdrawn:
(a) by the caveator or by the solicitor or agent of the caveator if the solicitor or agent is authorized so to withdraw it;
(b) where the caveator is dead--by the executor of the will, or the administrator of the estate, of the caveator;
(c) by a trustee or official receiver or other person in whom the interest claimed by the caveator is vested pursuant to the Bankruptcy Act 1966 ; or
(d) by any person in whom there is entrusted, by reason of the mental incapacity of the caveator, pursuant to an order of a court of a State or Territory or pursuant to a law of a State or Territory, the management and care of the interest claimed by the caveator.
(7) Where there is lodged for entry in the relevant register an instrument relating to a dealing with a ship, or a share in a ship, in respect of which a caveat has been lodged and the Registrar is satisfied that, upon entry of that instrument in the relevant register there will vest in the caveator the interest claimed by the caveator in the caveat, the Registrar may, notwithstanding the caveat and the provisions of sections 47C and 47D, enter the dealing in the relevant register and may record on the caveat or in the relevant register that the caveat has lapsed.