THE CORPORATIONS LAW

CHAPTER 9 - MISCELLANEOUS

PART 9.6 - PROCEEDINGS

SECTION 1336   VESTING OF PROPERTY  

View history reference

1336(1)  [Effect of vesting order]  

Where an order is made by a court under this Law 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 shall, 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.

1336(2)  [Where transfer of property may be registered]  

Where:

(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, notwithstanding 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.

1336(3)  [Property vests by force of this Law]  

Where:

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

(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;

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

 

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