Recording of trustee of bankruptcy
40 Recording of trustee of bankruptcy
The trustee in bankruptcy of an owner of—
a prescribed entitlement; or
an interest in a prescribed entitlement, may apply to the Minister for the recording of the transmission to the trustee of the prescribed entitlement or interest, as the case may be.
On the making of a recording in a case where subregulation (1)(a) applies—
the trustee in bankruptcy becomes the owner of the prescribed entitlement in respect of the interest of the owner of the prescribed entitlement; and
the trustee in bankruptcy holds the prescribed entitlement subject to all interests to which the owner was subject in relation to the prescribed entitlement, but for the purposes of any dealing with the prescribed entitlement under the Act, is the owner of the prescribed entitlement.
On the making of a recording in a case where subregulation (1)(b) applies, the trustee in bankruptcy becomes the owner of the interest in the prescribed entitlement.
An application under this regulation—
must be in a form determined by the Minister; and
must be accompanied by the prescribed fee.
The Minister may require a person to provide evidence or other information, in a manner determined by the Minister, that relates to any interest or other matter that is relevant to an application under this regulation.
This regulation applies subject to any law of the Commonwealth of
Australia relating to bankruptcy.
In this regulation—
prescribed entitlement means—
a water licence; or
a water access entitlement; or
a water allocation; or
a delivery capacity entitlement.
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