78AOriginal mortgagee to confirm identity of mortgagor

78A Original mortgagee to confirm identity of mortgagor (1) This section applies to: (a) the mortgaging of a lot or an interest in a lot; and (b) an amendment of a mortgage mentioned in paragraph (a). (2) Before the instrument of mortgage or amendment of mortgage is registered, the mortgagee under the instrument (the original mortgagee) must ensure the person who is the mortgagor under the instrument is identical to the person who is, or who is about to become, the registered proprietor of the lot or the interest in a lot. (3) For subsection (2): (a) a person is the mortgagor under an instrument of mortgage or amendment of mortgage if the person executes the instrument as mortgagor, including, if the instrument is an electronic conveyancing document, through a subscriber digitally signing the instrument under the Electronic Conveyancing National Law (NT); and (b) a person is the mortgagor under an instrument of mortgage or amendment of mortgage if the instrument is an electronic conveyancing document and the person signs, as mortgagor, a document that under the participation rules under the Electronic Conveyancing National Law (NT): (i) is required as a supporting document for the instrument of mortgage or instrument of amendment of mortgage; and (ii) is required to be kept by the original mortgagee. Land Title Act 2000 53 (4) An original mortgagee commits an offence if the original mortgagee does not comply with subsection (2). (5) An offence against subsection (4) is an offence of strict liability. (6) It is a defence to a prosecution for an offence against subsection (4) if the defendant took reasonable steps and exercised due diligence to prevent the commission of the offence. Note for subsection (6) (7) An original mortgagee must, for 7 years after the instrument is registered, and whether or not there is registered a transfer of the interest constituted by the mortgage: (a) keep, in the approved form, a written record of the steps taken under subsection (2); or (b) keep originals or copies of the documents and other evidence provided to or otherwise obtained by the original mortgagee in complying with subsection (2). (8) An original mortgagee commits an offence if the original mortgagee does not comply with subsection (7). Maximum penalty: 50 penalty units. (9) An offence against subsection (8) is an offence of strict liability. (10) It is a defence to a prosecution for an offence against subsection (8) if: the defendant from complying with subsection (7). Note for subsection (10) Land Title Act 2000 54 (11) The Registrar-General may, whether before or after the registration of the instrument and whether or not there has been registered a transfer of the interest constituted by the mortgage, ask an original mortgagee: (a) to advise the Registrar-General about the steps taken by the original mortgagee under subsection (2); and (b) to produce for the Registrar-General's inspection the written record mentioned in subsection (7)(a) or the originals or copies mentioned in subsection (7)(b). (12) An original mortgagee commits an offence if the original mortgagee does not comply with a request under subsection (11). Maximum penalty: 20 penalty units. (13) An offence against subsection (12) is an offence of strict liability. (14) It is a defence to a prosecution for an offence against subsection (12) if the defendant has a reasonable excuse. Note for subsection (14)