39CAmendment or extinguishment of covenant or agreement

39C Amendment or extinguishment of covenant or agreement

[Section 39C of Part 5 Inserted by No. 45 of 2015, s. 7, Applied:27 Nov 2015]

(1)  The Corporation or the Minister may enter into, with the registered proprietor of land that is the subject of a covenant (the earlier covenant) entered into under section 39B(1) by the Corporation or the Minister, respectively, a covenant to amend or extinguish the earlier covenant.

(2)  The Corporation or the Minister may enter into, with the registered proprietor of land that is the subject of an agreement (the earlier agreement) entered into under section 39B(2) by the Corporation or the Minister, respectively, an agreement to amend or extinguish the earlier agreement.

(3)  If a covenant or agreement is –

(a) recorded, under section 39B , on a folio of the Register for the land that is the subject of the covenant or agreement; and

(b) amended or extinguished in accordance with a covenant or agreement entered into under this section by the Corporation or the Minister –

the Corporation or the Minister, respectively, is to direct, in writing, the Recorder of Titles to alter the folio of the Register for the land, so as to reflect the amendment or extinguishment.

(4)  On receiving a direction under subsection (3) in relation to an amendment of a covenant or agreement, the Recorder of Titles is to alter, as he or she considers appropriate so as to reflect the amendment, the relevant folio of the Register for the land that is the subject of the covenant or agreement.

(5)  On receiving a direction under subsection (3) in relation to an extinguishment of a covenant or agreement, the Recorder of Titles is to alter, as he or she considers appropriate so as to reflect the extinguishment, the relevant folio of the Register for the land that is the subject of the covenant or agreement.