(3) The notice must state that it is the intention of at least 75% of the members of the company or the owners or the High Court has made an order under section 193 that all necessary steps be taken by the members of the company or the owners to subdivide the whole of its or their land in accordance with this Act unless, not later than 1 month after the date on which the notice is given to the Registrar, a caveat in the prescribed form is lodged, by any person claiming an estate or interest in the land or shares, with the Registrar under the Land Transfer Act 1952 forbidding the subdivision.
(4) On receipt by the Registrar of notice of the resolution or order under this section, the Registrar must make an entry on each computer register in respect of the land concerned to the effect that the company or the owners have advertised an intention to subdivide the land in accordance with this Act.