Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) Before the person entitled to the benefit of a statutory charge exercises a power of sale under the charge, the person must give to the registered owner of the land not less than 28 days notice of the proposed exercise of the power.
(2) The notice is to:
(a) be in the approved form; and
(b) contain particulars of the action that the registered owner may take in order to avoid the exercise of the power of sale and the period within which the action may be taken.
(3) If the registered owner does not take the action specified in the notice within the time specified, the person entitled to the benefit of the statutory charge may, subject to Part 7 of the Law of Property Act 2000 , exercise the powers of a mortgagee concerning the sale or foreclosure of land.