197Title assessment report for part of a year

197 Title assessment report for part of a year

(1) This regulation applies if—

(a) a title ceases to be in force (whether because the title has expired or because the title has been surrendered, cancelled, revoked or terminated); and

(b) the term of the title was not a whole number of years.

This regulation may apply when a title has been renewed. The renewal of a title is taken to be the grant of a new title on the day after the expiry of the previous title—see sections 11 and 12 of the Act.

(2) The Minister may, by notice in writing, require the titleholder to give a title assessment report to the Minister for the period at the end of the term that was not a year of the term.

(3) The notice must specify—

(a) the information that must be provided in the report, being only information that would be required from the titleholder in an annual title assessment report under regulation 195; and

(b) the date by which the report must be given, being a date at least 30 days after the day on which the notice is given.

(4) A titleholder must comply with a notice given by the Minister under subregulation (2).