Commonwealth Consolidated Acts

AIR SERVICES ACT 1995 - SECT 62

  (1)   A statutory lien ceases to have effect in the following cases, and not otherwise:

  (a)   when there is no longer any outstanding amount covered by the statutory lien;

  (b)   when the aircraft is sold under section   67;

  (c)   when an authorised employee directs in writing that the statutory lien ceases to have effect.

  (2)   When a lien ceases to have effect, the Registrar must make an entry in the Register as prescribed by the regulations.