Financial Sector Reform (Northern Territory) Act 1999

This section applies if:

an asset, other than land or an interest in land, becomes, under this Part, an asset of a receiving body; and

there is lodged with the entity who has, under the law, responsibility for keeping a register or record relating to assets of that kind a certificate that:

is signed by an authorised APRA officer;

identifies the asset; and

states the asset has, under this Part, become an asset of the receiving body.

The entity may:

register or record the matter in the same manner as transactions in relation to assets of that kind are registered or recorded; and

deal with, and give effect to, the certificate.

This section does not affect the operation of the Corporations

Law.