(1) If a section 138A
caveat has been lodged then the proprietor of the land in respect of which the
caveat was lodged, or the judgment creditor named in a property (seizure and
sale) order registered under section 133 in respect of the judgment
debtor’s saleable interest in such land, may apply, in an approved form
and on payment of the prescribed fee, for the Registrar to serve the caveator
with a notice to the effect that, unless the caveator takes the action
referred to in subsection (2) within 21 days after the day on which the notice
is served, the caveat will lapse.
(2) If the notice
referred to in subsection (1) is served on the caveator then the caveat lapses
21 days after the day on which the notice was served unless, before that time,
the caveator has —
(a)
obtained from the Supreme Court an order extending the operation of the caveat
—
(i)
for such further period as is specified in the order; or
(ii)
until the further order of the court;
and
(b)
lodged with the Registrar a copy of the order.
[Section 138B inserted: No. 81 of 1996 s. 84;
amended: No. 59 of 2004 s. 140.]