Commentary on Sections Part 2 – Security over Moveable Property Corrections Section 97 – Correction of record in response to application under section 96
406.This section deals with what happens once an application for a correction is accepted under section 96.
407.Subsection (1) provides that the Keeper must, on accepting an application, correct the entry. See also section 102(2) and (3), which sets out the procedure that the Keeper must follow depending upon the nature of the correction (but, for example, in every case the Keeper must note in the register that a correction has been made). However, subsection 102(4) does not apply here, as notification requirements are dealt with by means of the issue of a verification statement.
408.Under subsection (2), the Keeper must issue both the applicant and provider with a verification statement, but only if their email addresses have been provided in the application. Subsection (3) makes provision about the content of the verification statement. Under subsections (4) and (5), there is an ability for the provider to obtain a copy of the verification statement from the applicant (i.e. the secured creditor) if the statement is not received by provider but is received by the secured creditor. Given that the secured creditor will be the one submitting the application, it is to be expected that they will supply their own email address correctly and will therefore receive the statement, but if they make a mistake in supplying the provider’s email address then this will allow the provider a means of obtaining a copy.