s 45
In forceA registered Kyoto unit is personal property for certain purposes
Part 3Kyoto units
45 A registered Kyoto unit is personal property for certain purposes
Scope
(1)
This section applies if there is an entry for a Kyoto unit in a Registry account.
Personal property
(2)
For each of the following purposes:
(a)
the purposes of the Bankruptcy Act 1966;
(b)
the purposes of Chapter 5 of the Corporations Act 2001;
(c)
the purposes of the law relating to wills, intestacy and deceased estates;
(d)
a prescribed purpose;
the unit is personal property and, subject to section 47, is transmissible by will and by devolution by operation of law.
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