(1) If:
(a) a caveat is lodged for registration; and
(b) the caveat complies with section 343; and
(c) the person lodging the caveat pays the fee required by section 344;
the Designated Authority must, subject to subsection (4), register the caveat.
(2) The Designated Authority must register the date on which the caveat was lodged.
(3) The Designated Authority must retain the original of the caveat and endorse on it the date on which it was lodged.
(4) Subsection (1) does not apply if:
(a) a court has made an order under subsection 351(2); and
(b) the order requires the court's consent to the registration of the caveat; and
(c) the court has not consented to the registration of the caveat.