Article 2.2.10 Caveats and Priority Notices

(a) Purpose and Function:

(i) Any person claiming an unregistered legal or equitable interest in ICT real property may lodge a caveat or priority notice in the prescribed form by the Operator or the Land Registrar.

(ii) A caveat shall:

(iii) Operate as a formal warning to prospective registrants; and

(iv) Prevent inconsistent dealings from being registered until the caveat is withdrawn, lapses, or is removed by order.

(b) Regulation of Caveats and Notices:

The Operator or Land Registrar may issue regulations governing:

(i) Duration and renewal conditions;

(ii) Objection and dispute resolution procedures;

(iii) Automatic expiry for caveats not followed by legal action within a defined timeframe.

(c) Misuse and Sanctions:

Abuse of the caveat or notice system, including lodging without reasonable cause or failing to prosecute underlying claims, may result in: monetary penalties; cost orders; or other sanctions imposed by the ICT Court.