Albury-Wodonga Development Corporation (Abolition) Act 2014 (117 of 2014)

Schedule 1   Amendments

Part 3   Transitional provisions

Division 2   Transfer of assets and liabilities

12   Certificates relating to vesting of assets other than land

(1) If an asset other than land vests in the Commonwealth under this Division and the Minister signs a certificate that:

(a) identifies the asset; and

(b) states that the asset has become vested in the Commonwealth under this Division; and

(c) is lodged with the person or authority who, under a law of the Commonwealth, a State or a Territory, under a trust instrument or otherwise, has responsibility for keeping a register in relation to assets of that kind;

the person or authority may:

(d) deal with, and give effect to, the certificate as if it were a proper and appropriate instrument for transactions in relation to assets of that kind; and

(e) make such entries in the register as are necessary, having regard to the effect of this Division.

(2) A certificate under subitem (1) is not a legislative instrument.