Completed Outstanding

1. Full and clear instructions received from the

lender in writing or confirmed in writing.

2. Obtain all required searches — Personal

Property Securities Register, Company, Land

Transfer, other.

3. Information facsimile/letter sent.

4. Response to information facsimile received.

5. Review all Company searches for:

• incorporation

• charges

• constitution adopted or not

• adverse interests

• liquidation/receivership

• method of contracting permitted.

NOTE: The level of inquiry could affect the

protection provided by section 18 of the

Companies Act 1993.

6. Review Land Transfer searches for:

• mortgages

• other encumbrances

• land consents

• Council encumbrances

• correct registered proprietor details

• consent notices

• anything else to be investigated.

7. Check other searches to ascertain ownership and

other charges. If personal property is involved,

check the PPSA register.

8. Identify any consents, approvals, contracts

required (ie for the borrower’s business or

project — are they in force? Are there

conditions of concern?).

9. If a Trust is involved, obtain a copy of the trust

deed, any variations, and any change of trustees.

Check execution, valid perpetuity period and

trustee power for the transaction.

10. All relevant loan and security documentation

drafted, checked and sent to borrower’s solicitor

(if applicable).

11. Signed documentation received and checked.

Necessary director/trustee resolutions completed,

special resolutions passed for major transactions,

entitled persons’ agreement completed if

interested directors involved.

Lodge a financing statement before settlement if

personal property is charged. Check before

settling that you have the required priority.

12. All other settlement requirements received.

13. Outstanding Lender preconditions to advancing

the loan satisfied.

14. Bill the file pre-settlement.

15. Complete settlement.

16. Attend to registration of securities within

prescribed time limits and in the correct

Registry.

17. Report to Lender.

18. Borrower’s copy of signed documents

forwarded.

19. Disbursement reconciliation completed (when

lump sum obtained on account of

disbursements).