129Certificates in relation to land and interests in land

129 Certificates in relation to land and interests in land

If:

(a) a body corporate (the receiving body) becomes, under this Division, the owner of land, or of an interest in land, that is situated in a State or Territory; and

(b) there is lodged with the Registrar of Titles or other appropriate officer of the State or Territory in which the land is situated a certificate that:

(i) is issued by the Reserve Bank; and

(ii) identifies the land or interest; and

(iii) states that the receiving body has, under this Division, become the owner of that land or interest;

the officer with whom the certificate is lodged may:

(c) register the matter in the same manner as dealings in land or interests in land of that kind are registered; and

(d) deal with, and give effect to, the certificate.