130ZDChange in nature of interest in land

130ZD Change in nature of interest in land

(1) A foreign person must give a register notice to the Registrar if: (a) a registered circumstance exists in relation to the person (including a registered circumstance affected by a previous application of this section); and (b) the Register records the registered circumstance as relating to the person holding any of the following kinds of interest: (i) an interest in residential land; (ii) an interest in commercial land; (iii) an interest in agricultural land; (iv) an interest in a mining or production tenement; (v) an interest (within the meaning of section 130ZB) in an exploration tenement; and (c) while the registered circumstance exists, the interest becomes an interest (the new interest) of a kind mentioned in another subparagraph of paragraph (b); and (d) the foreign person is aware, or ought reasonably to have become aware, of the change mentioned in paragraph (c).

Note: A registered circumstance may exist only on or after the Register commencement day.

(2) If a foreign person gives a register notice under this section, the registered circumstance becomes a registered circumstance under this section (without ceasing). (3) The registered circumstance ceases if the foreign person ceases to hold the new interest. (4) The registrable event day for a register notice under this section is the first day on which the person is aware, or ought reasonably to have become aware, of the change mentioned in paragraph (1)(c).