A charge created under section 302A ceases to have effect on a * person's property on the earliest of the following events:
(a) the amount owing under subsection 293(3) is paid to the Commonwealth;
(b) there is forfeited to the Commonwealth under this Act:
(i) all of the property that is covered by the charge; or
(ii) some of the property that is so covered, being property of a value that equals or exceeds the amount owing under subsection 293(3);
(c) the person sells or disposes of the property with the consent of the * Official Trustee.