I have a question regarding participants to a workspace.
By way of background:
I'm acting for the purchaser of 100% of the shares in a company from the existing shareholders of the company.
The company is the registered proprietor of land in Western Australia.
As part of the transaction, the vendor (being the existing shareholders of the company) is to procure the discharge of the mortgage registered over the land.
My client (being the new shareholder) will be arranging for its bank to lodge a new mortgage over the land at settlement (as my client is providing the land as security for its acquisition of the shares in the company).
Since the registered proprietor will not change (the company will stay the same on title following settlement), the discharge of the old mortgage and lodgement of the new mortgage will effectively be a refinance. This means that the parties must use PEXA, and cannot lodge the discharge of mortgage and new mortgage physically at Landgate.
The incoming mortgagee has created a PEXA workspace and has invited the outgoing mortgagee and registered proprietor (being the company) to the workspace.
However, my client (being the new shareholder) cannot be invited as a participant to the workspace as my client is not the purchaser of the land, a caveator or a mortgagee.
Is there any way for my client to be represented in the workspace? If not, is PEXA planning on introducing a "silent participant" where a participant can be added to a workspace but with effectively "read only" functions (i.e. without the ability to make any changes to the workspace). Such an option would be helpful in my current situation as I currently have no visibility in the workspace!
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