Foreign Acquisitions and Takeovers Act 1975

PART 6A - VACANCY FEES FOR FOREIGN ACQUISITIONS OF RESIDENTIAL LAND  

Division 3 - Vacancy fees: recovery of unpaid fees  

SECTION 115M   VACANCY FEE RECOVERY - EFFECT OF CHARGE ON LAND  

115M(1)    
A charge created on land under section 115K in which a person holds an interest has priority over any other interest in the land (even if the interest has been registered on a land register).

115M(2)    
The charge remains in force until all of the following amounts are paid:

(a) any unpaid vacancy fees;

(b) any unpaid vacancy penalties;

(c) any costs incurred by the Commonwealth in relation to recovering unpaid vacancy fees and any unpaid vacancy penalties.

115M(3)    
To avoid doubt, the charge on the land is not affected by any change in ownership of the land.

Powers of Treasurer

115M(4)    
The Treasurer has power, on behalf of the Commonwealth, to do, or authorise the doing of, anything necessary or convenient to obtain the registration of the charge on a land register.

115M(5)    
The Treasurer ' s powers under subsection (4) include:

(a) executing any instrument required to be executed; and

(b) signing any certificate that:

(i) states that a charge is created on land under section 115K ; and

(ii) specifies the land on which the charge is created.