341Effect of a caveat

#### 341 Effect of a caveat (1) If a caveat is in force on a licence, the Designated Authority must not register a dealing in the licence unless: (a) the Designated Authority is not required to give the caveat holder notice of the particular dealing; or (b) the caveat holder consents to the registration of the dealing under section 350; or (c) a court of competent jurisdiction orders the Designated Authority to register the dealing under section 338 or 339 despite the caveat. > Note 1: For dealing see section 4. > Note 2: Once the caveat holder has been given notice of the dealing, the caveat will lapse at the end of 30 days unless the caveat holder consents to the registration of the dealing or gets a court order extending the life of the caveat. > Note 3: The Designated Authority may not be required to give the caveat holder notice of the dealing because the caveat holder is a party to the dealing or because the dealing falls outside the class of dealings that the caveat holder has specified under subsection 343(2) (see subsection 349(6)). (2) If a caveat is in force on a licence, the Designated Authority must not register a person under section 340 as a licence holder unless: (a) the caveat holder consents to the registration under section 350; or (b) a court of competent jurisdiction orders the Designated Authority to register the person under section 340 despite the caveat. > Note: Once the caveat holder has been given notice, the caveat will lapse at the end of 30 days unless the caveat holder consents to the registration or gets a court order extending the life of the caveat.