(1) If under this
Subdivision land is offered for sale but at the expiration of 12 months a
contract for the sale of the land has not been entered into by the local
government, it may by transfer, where the land is subject to the provisions of
the Transfer of Land Act 1893 , and by deed, where the land is not subject to
the provisions of that Act, transfer or convey the estate in fee simple in the
land to —
(a) the
Crown in right of the State; or
(b) the
local government.
(2) When a local
government exercises the power referred to in subsection (1)(a) in relation to
any land all encumbrances affecting the land are, by virtue of this section of
no further force or effect against that land and the Registrar of Titles or
the Registrar of Deeds and Transfers, as the case requires, is to give effect
to this section.
(3) When exercising
the power referred to in subsection (1)(b) the local government is required to
pay the sum secured by, or payable under, a mortgage, lease, tenancy,
encumbrance or charge in favour of the Crown in right of the State or a
department, agency, or instrumentality of the Crown in right of the State.
(4) Schedule 6.3 has
effect in relation to the exercise of the power referred to in subsection (1).
[Section 6.71 amended: No. 47 of 2011 s. 16.]