sec.22Registering authority to note transfer or other dealing

sec.22 Registering authority to note transfer or other dealing

The registrar of titles or other person required or authorised by law to register or record transactions affecting assets or liabilities— may, without formal application, register or record in the appropriate way a transfer or other dealing affecting an asset or liability under a transfer notice; and must, on written application by a transferee entity, register or record in the appropriate way the transfer of an asset or liability under a transfer notice to the transferee entity. A transaction, related to an asset or liability transferred to a transferee entity, entered into by the transferee entity in the relevant transferor entity’s name or the name of a predecessor in title to the relevant transferor entity, if effected by an instrument otherwise in registrable form, must be registered even though the transferee entity has not been registered as proprietor of the asset or liability. If an asset or liability is registered in the name of a transferor entity, the registrar of titles or other registering authority may register a dealing for a transaction about the asset or liability without being concerned to enquire whether it is, or is not, an asset or liability transferred under a transfer notice. In this section— transferee entity means the entity to which an asset or liability is transferred under a transfer notice. transferor entity means the entity from which an asset or liability is transferred under a transfer notice. (sec.22-ssec.1) The registrar of titles or other person required or authorised by law to register or record transactions affecting assets or liabilities— may, without formal application, register or record in the appropriate way a transfer or other dealing affecting an asset or liability under a transfer notice; and must, on written application by a transferee entity, register or record in the appropriate way the transfer of an asset or liability under a transfer notice to the transferee entity. (sec.22-ssec.2) A transaction, related to an asset or liability transferred to a transferee entity, entered into by the transferee entity in the relevant transferor entity’s name or the name of a predecessor in title to the relevant transferor entity, if effected by an instrument otherwise in registrable form, must be registered even though the transferee entity has not been registered as proprietor of the asset or liability. (sec.22-ssec.3) If an asset or liability is registered in the name of a transferor entity, the registrar of titles or other registering authority may register a dealing for a transaction about the asset or liability without being concerned to enquire whether it is, or is not, an asset or liability transferred under a transfer notice. (sec.22-ssec.4) In this section— transferee entity means the entity to which an asset or liability is transferred under a transfer notice. transferor entity means the entity from which an asset or liability is transferred under a transfer notice.