Certificates in relation to assets

Current

(1)

This section applies if:

(a)

an asset vests in Dairy Australia Limited under this Division; and

(b)

there is lodged with an assets official a certificate that:

(i)

is signed by the Minister; and

(ii)

identifies the asset; and

(iii)

states that the asset has become vested in Dairy Australia Limited under this Division.

(2)

The assets official may:

(a)

deal with, and give effect to, the certificate as if it were a proper and appropriate instrument for transactions in relation to assets of that kind; and

(b)

make such entries in the register as are necessary having regard to the effect of this Division.

(3)

In this section:

assets official means the person or authority who, under a law of the Commonwealth, a State or a Territory, under a trust instrument or otherwise, has responsibility for keeping a register in relation to assets of the kind concerned.

This Act’s bill:Explanatory memorandum Second reading speech

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19 Certificates in relation to assets