Commonwealth Consolidated Acts Commonwealth Consolidated ActsIncorrectly registered data taken never to have been registered
(1) If data is registered with respect to personal property in a financing statement under subsection 333(2) on the basis that the property is in a class determined under subsection 333(1), but the personal property is not, in fact, in the determined class, this Act applies as if the data is not, and never has been, included in the register.
Removal of data
(2) Before a time determined under subsection (3), the Registrar may (at his or her initiative) register a financing change statement to remove data from the register, if the Registrar becomes satisfied that subsection (1) applies to the data.
(3) The Registrar may, by legislative instrument, determine a time for the purposes of subsection (2).
Note 1: Incorrectly removed data may be restored under section 186.
Note 2: Application may be made to the Administrative Review Tribunal for review of the Registrar's decision under subsection (2) (see section 191).