(1) Registrable real
property that is confiscated under section 6, 7 or 8 vests absolutely in the
State when —
(a) the
court declares under section 30 that the property has been confiscated; and
(b) a
memorial of the making of the declaration is registered under section 113(1).
(2) When registrable
real property vests in the State under subsection (1) —
(a) the
property vests free from all interests, whether registered or not, including
trusts, mortgages, charges, obligations and estates, (except rights-of-way,
easements and restrictive covenants); and
(b) any
caveat in force in relation to the property is taken to have been withdrawn;
and
(c) the
title in the property passes to the State.
(3) If registrable
real property has been confiscated under section 6, 7 or 8, but has not vested
in the State under subsection (1), sections 50 and 51 and Part 7 apply to the
property as if it were subject to a freezing order.