Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 14 - COURTS AND PROCEEDINGS  

PART 14-2 - PROCEEDINGS  

Division 581 - Proceedings  

SECTION 581-25   VESTING OF PROPERTY  

581-25(1)    
If an order is made by a court under this Act vesting property in a person:

(a)    subject to subsection (2) , the property forthwith vests in the person named in the order without any conveyance, transfer or assignment; and

(b)    the person who applied for the order must, within 7 days after the passing and entering of the order, lodge an office copy of the order with such person (if any) as is specified for the purpose in the order.

581-25(2)    
If:

(a)    the property to which an order referred to in subsection (1) relates is property the transfer or transmission of which may be registered under a law of the Commonwealth, of a State or of a Territory; and

(b)    that law enables the registration of such an order;

the property, despite that it vests in equity in the person named in the order, does not vest in that person at law until the requirements of the law referred to in paragraph (a) have been complied with.

581-25(3)    
If:

(a)    property vests in a person by force of this Act ; and

(b)    the property is property the transfer or transmission of which may be registered under a law of the Commonwealth, of a State or of a Territory; and

(c)    that law enables the person to be registered as the owner of that property;

the property, despite that it vests in equity in that person by force of this Act , does not vest in that person at law until the requirements of the law referred to in paragraph (b) have been complied with.