Vesting of property etc in the Minister
5 Vesting of property etc in the Minister
The Minister succeeds to all the property, assets, rights, powers, liabilities and obligations of Homestart and the Urban Land
Trust.
However, subclause (1) does not apply to property, assets, rights, powers, liabilities or obligations vested by the Governor, by proclamation, in—
the Crown; or
another Minister of the Crown; or
an agent or instrumentality of the Crown; or
a statutory corporation established under this Act.
The vesting of property by this clause, and an instrument evidencing or giving effect to that vesting, are exempt from stamp duty.
The Registrar-General or another authority required or authorised under a law of the State to register or record transactions affecting assets, rights or liabilities, or documents relating to such transactions, must, on application under this clause, register or record in an appropriate manner a vesting under this clause.
An instrument relating to an asset, right or liability that has vested in the Minister or a body under this clause must, if the instrument is executed by the Minister or the body and is otherwise in an appropriate form, be registered or recorded by the Registrar-General or another appropriate authority despite the fact that the Minister or the body has not been registered or recorded as the proprietor of the property under subclause (4).
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