(1) A registration authority must cancel registration of a charge on receiving notice from the Commissioner that:
(a) the tax liability to which the charge relates has been fully satisfied; or
(b) the Commissioner no longer wants the charge to be registered.
(2) When a tax liability to which a registered charge relates is fully satisfied, the Commissioner must notify the registration authority of that fact.
(3) The registration authority must also cancel registration of a charge if a duly stamped conveyance is lodged for registration to give effect to the sale of the land under this Division.