Queensland Consolidated Acts

BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 100D

100D Release of charge

(1) Subsection (2) applies if a charge has been registered over relevant property under section 100B and either of the following events happen—

(a) the charge expires under section 100C ;

(b) the adjudicated amount, the subject of the charge, is paid to the claimant.

(2) As soon as practicable after the event happens, the claimant must, in the appropriate form, lodge a request to release the charge over the relevant property with the registrar of titles.

Penalty—

Maximum penalty—100 penalty units.

(3) On receipt of the request, the registrar of titles must register the release of the charge over the relevant property.

(4) If satisfied an event mentioned in subsection (1) has happened and the claimant has failed to act under subsection (2) , the registered owner of the relevant property may, in the appropriate form, lodge a request to release the charge over the property with the registrar of titles.

(5) The request of the respondent must include a statutory declaration stating that—

(a) the charge has expired under section 100C ; or

(b) the adjudicated amount, the subject of the charge, has been paid to the claimant.

(6) Also, if the charge expired under section 100C (1) , the statutory declaration must also state that a search of court records indicates that the claimant has not applied for an extension under section 100C (2) .

(7) On receipt of the request, the registrar of titles must register the release of the charge over the relevant property.