s 128 Compensation payable for wrongfully lodging caveats, etc.
128.—(1) Any person who wrongfully, vexatiously or without reasonable cause —(a) lodges a caveat with the Registrar; (b) procures the lapsing of such a caveat; or (c) being the caveator, refuses or fails to withdraw such a caveat after being requested to do so, is liable to pay compensation to any person who sustains pecuniary loss that is attributable to an act, a refusal or a failure referred to in paragraph (a), (b) or (c). (2) The compensation mentioned in subsection (1) is recoverable in proceedings taken in a court by the person who claims to have sustained the pecuniary loss. (3) A person who is a caveator is not entitled to bring proceedings under subsection (1)(b) if that person, having had an opportunity to do so, has failed to take all reasonable steps to prevent the caveat from lapsing. (4) For the purposes of this section, a caveator is deemed to allow a caveat to remain without reasonable cause if the caveator fails to withdraw it within 7 days of the day on which the caveator’s right to the interest claimed terminates.