sec.12NRegistering authority to note transfer or other dealing

sec.12N 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 port authority, register or record in the appropriate way the transfer of an asset or liability under a transfer notice to the transferee port authority. A transaction, related to an asset or liability transferred to a transferee port authority, entered into by the transferee port authority in the name of the State or the name of a predecessor in title to the State, if effected by an instrument otherwise in registrable form, must be registered even though the transferee port authority has not been registered as proprietor of the asset or liability. If an asset or liability is registered in the name of the State, 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— port authority includes Gladstone ports entity. transferee port authority means the port authority to which an asset or liability is transferred under a transfer notice. s 12N ins 2013 No. 40 s 9 (sec.12N-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 port authority, register or record in the appropriate way the transfer of an asset or liability under a transfer notice to the transferee port authority. (sec.12N-ssec.2) A transaction, related to an asset or liability transferred to a transferee port authority, entered into by the transferee port authority in the name of the State or the name of a predecessor in title to the State, if effected by an instrument otherwise in registrable form, must be registered even though the transferee port authority has not been registered as proprietor of the asset or liability. (sec.12N-ssec.3) If an asset or liability is registered in the name of the State, 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.12N-ssec.4) In this section— port authority includes Gladstone ports entity. transferee port authority means the port authority to which an asset or liability is transferred under a transfer notice.