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(1) A charge created under section 52 is released when

(a) the Commissioner-General sells the asset in accordance with section 54; or

(b) the taxpayer pays to the Commissioner-General the full amount secured by the charge.

(2) Where a charge over an interest in land or a building is released

(a) the Commissioner-General shall, within seven days of the release, lodge the release with the Lands Commission; and

(b) the Executive Secretary of the Lands Commission shall remove the entry of the charge from the title of the interest in the land or the building within seven days from the date the Commissioner-General lodged the release.