Queensland Consolidated Acts

FOREIGN OWNERSHIP OF LAND REGISTER ACT 1988 - SECT 19

19 Notification of ceasing to be a foreign person

(1) This section applies if, on 30 June in a year—

(a) the legal estate of an interest in land is registered in the register, or recorded in the records of a relevant registering authority, in the name of a foreign person; and

(b) the person is no longer a foreign person; and

(c) the person has not completed, and lodged with the registrar, a notification of ownership, in the approved form, in relation to the cessation.

(2) The person must complete, and lodge with the registrar, a notification, in the approved form, in relation to the cessation by 30 September in the year.

Penalty—

Maximum penalty—20 penalty units.