218C   Multi-jurisdictional statement

(1)  If mortgage duty is imposed on the dutiable proportion of a mortgage (whether for a mortgage over property not wholly in New South Wales, a mortgage package or on initial or subsequent advances), the mortgagor and mortgagee must, within 3 months after the liability arises:

(a)  make a written statement, in an approved form, about the location and value of the secured property, and

(b)  lodge the statement with the Chief Commissioner.

Maximum penalty: 100 penalty units.

(2)  The making and lodging of a statement under subsection (1) by either the mortgagor or the mortgagee relieves the other person from complying with that subsection.

(3)  The statement may be taken to be the mortgage, or mortgages comprising the mortgage package.