Queensland Consolidated Acts Queensland Consolidated Acts(1) This section applies if a registered owner of a GEC has mortgaged it and the owner has defaulted under the mortgage.
(2) The mortgagee may exercise its powers under the mortgage only if the mortgagee has given the regulator notice of the mortgagee's intention to exercise powers under the mortgage that relate to the GEC.
(3) Any purported exercise of a power under the mortgage relating to the GEC that does not comply with subsection (2) is of no effect.