s 119 Effect of caveats
119.—(1) Subject to subsections (2) and (3), a caveat which is in order for notification in the land-register at the date of its lodgment takes effect from that date. (2) Where a caveat is lodged against any land which has not yet been brought under the provisions of this Act, that caveat does not operate to prohibit the registration of dealings affecting that land until it becomes registered land.[8/2014] (3) For the purposes of according priority to a caveat which has been lodged under the provisions of this Act and is amended subsequent to its date of lodgment —(a) where it is materially amended subsequent to its date of notification in the Caveat Index before the land becomes registered land, the caveat has priority in accordance with section 48 upon the acceptance of the amendment by the Registrar as having complied with the requirements specified by the Registrar under section 117; or (b) where it is materially amended at any time after its lodgment against the relevant folio, the caveat has priority upon the acceptance of the amendment by the Registrar as having complied with the requirements specified by the Registrar under section 117. (4) Except as otherwise provided for in section 129(1), the Registrar must not register any dealing which is prohibited by the caveat for so long as the caveat remains effective.[8/2014]