(1) The requirements
of subsections (2) and (3) are in addition to the requirements of Part IV
Division 3 and any other provision of this Act relevant to the mortgage of
(2) A person shall not
be a mortgagee of a carbon covenant unless the person is also a mortgagee of
the relevant carbon right.
(3) If a carbon
covenant applies in respect of Crown land, a mortgage of the carbon covenant
shall not be registered unless there is compliance with section 18 of the Land
Administration Act 1997 .
[Section 104K inserted: No. 56 of 2003 s. 14.]