47CWhen caveat to lapse

#### 47C When caveat to lapse A caveat entered in the relevant register in respect of a ship or a share in a ship shall, unless an order to the contrary is made by the Supreme Court of a State or a Territory and served on the Registrar, be deemed to have lapsed upon the expiration of 14 days after notice is given to the caveator that: (a) if the caveat relates to a ship—the person or each person entered in the relevant register as an owner or part‑owner of the ship or a person having a right to register a dealing with the ship; or (b) if the caveat relates to a share in the ship—the person or each person entered in the relevant register as an owner or part‑owner of the share or a person having a right to register a dealing with the share; has applied for the registration of any dealing with the ship or share.