71DCreation of registered security interests by recording in Access Register

#### 71D Creation of registered security interests by recording in Access Register 71D Creation of registered security interests by recording in Access Register > > (1) A registered security interest over an access licence (or a holding in an access licence that is held as a tenancy in common) is created by— > > > > > (a) execution of an instrument in the approved form evidencing the existence of a security interest over the licence or holding, and > > > > > (b) registering the security interest by recording it in the Access Register in accordance with Part 1 of Schedule 1A. > > > > Note. > > > > A security interest has no effect until recorded in the Access Register—see sections 71A (1) (e) and 71B. > > > (2) Subsection (1) does not apply to— > > > > > (a) a specific purpose access licence, or > > > > > (b) a security interest referred to in clause 19 of Schedule 10. > > > > > > Note. > > > > > > Clause 19 of Schedule 10 makes provision for the registration of security interests in access licences arising from entitlements under former legislation. > > > (3) For the purposes of Chapter 7 of the [Duties Act 1997](/view/html/inforce/current/act-1997-123)— > > > > > (a) a registered security interest over an access licence or holding in an access licence is taken to be a security by way of mortgage or charge over property wholly or partly in New South Wales, and > > > > > (b) the liability date is the date on which the registered security interest is first recorded in the Access Register, > > > > except as provided by the regulations. > > **ch 3, pt 2, div 3A, sdivs 2, 3 (ss 71D–71F):** Ins 2004 No 39, Sch 3 \[5\].