Certificates in relation to other assets
122 Certificates in relation to other assets
Where:
an asset (other than an asset to which section 119, 120 or 121 applies) becomes, under this Division, an asset of a newly registered organisation; and
a certificate that:
is signed by an authorised person; and
identifies the asset; and
states that the asset has, under this Division, become an asset of the newly registered organisation;
is given to the person or authority who has, under Commonwealth, State or Territory law, responsibility for keeping a register in relation to assets of that kind;
the person or authority may:
register the matter in the same way as transactions in relation to assets of that kind are registered; and
deal with, and give effect to, the certificate as if the certificate were a proper and appropriate instrument for transactions in relation to assets of that kind.
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