147—Cancellation of registration of mortgage by Registrar-General
(1) The
Registrar-General may cancel the registration of a mortgage if—
(a) the
person by or on whose behalf the mortgage was signed or executed as mortgagor
(the
"purported mortgagor") is not the registered proprietor of land subject to the
mortgage; and
(b) the
mortgagee—
(i)
failed to comply with a requirement under this Act or the
Electronic Conveyancing National Law (South Australia) to verify the
purported mortgagor's identity or authority to enter into the mortgage; or
(ii)
if the mortgage was transferred to the
mortgagee—failed to comply with a requirement under this Act to
establish that the transferor complied with an obligation imposed on the
transferor, as mortgagee, to verify the purported mortgagor's identity or
authority to enter into the mortgage.
(2) The
Registrar-General may cancel the registration of a mortgage that is executed
solely by the mortgagee if the mortgagee is unable to produce, at the request
of the Registrar-General, the corresponding mortgage required to be retained
by the mortgagee under section 128.