sec.19Notification of ceasing to be a foreign person

sec.19 Notification of ceasing to be a foreign person

This section applies if, on 30 June in a year— 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 the person is no longer a foreign person; and the person has not completed, and lodged with the registrar, a notification of ownership, in the approved form, in relation to the cessation. 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. Maximum penalty—20 penalty units. s 19 sub 1989 No. 3 s 13 amd 1990 No. 106 s 7 sub 2019 No. 7 s 163 amd 2021 No. 12 s 148 sch 3 (sec.19-ssec.1) This section applies if, on 30 June in a year— 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 the person is no longer a foreign person; and the person has not completed, and lodged with the registrar, a notification of ownership, in the approved form, in relation to the cessation. (sec.19-ssec.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. Maximum penalty—20 penalty units.

• (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.