Queensland Consolidated Acts

INALA SHOPPING CENTRE FREEHOLDING ACT 2006 - SECT 21

21 Release of chief executive’s charge on payment of conversion cost etc.

(1) This section applies if—

(a) the chief executive receives payment of the demand amount during the period stated in a notice of intention to sell; or

(b) with the Minister’s consent, the chief executive, after the period stated in a notice of intention to sell, agrees to accept, and receives payment of, another amount in payment of the chief executive’s charge.

(2) The amount mentioned in subsection (1) (b) may be more or less than the demand amount.

(3) Each lot that is subject to the chief executive’s charge is released from the charge.

(4) The chief executive must, as soon as practicable, ask the registrar of titles to record the release of the charge in the freehold land register.

(5) The registrar of titles must, on the chief executive’s request, record the release of the charge in the freehold land register.

(6) No fee is payable for recording the release of the chief executive’s charge under this section.