51Registration of trustee of bankrupt

51 Registration of trustee of bankrupt S. 51(1) amended by Nos 9976 s. 11, 18/1989 s. 12(Sch. 1 item 81). (1) Upon the bankruptcy of the registered proprietor of any land, or upon any bankrupt before obtaining his discharge or certificate becoming the proprietor of any land, his trustee shall be entitled to be registered as proprietor in respect thereof; and the Registrar, upon the receipt of an office copy of the appointment of the trustee and an application in an appropriate approved form by the trustee to be so registered, shall in any relevant part of the Register make a recording (by the appropriate description whether as trustee assignee or official receiver) of the appointment of such trustee. (2) Thereupon such trustee shall become the transferee and be the proprietor of the estate or interest of the bankrupt and shall hold subject to all equities upon which the bankrupt held; but for the purpose of any dealing with the land under the provisions of this Act such trustee shall be the registered proprietor thereof. (3) Unless prior to a bankrupt registered proprietor dealing with any land under the operation of this Act the trustee in his bankruptcy has either applied to be registered as proprietor thereof or has lodged a caveat against dealings by the bankrupt any dealings by the bankrupt with any person dealing bona fide and for value with him shall not be affected by any order of sequestration. (4) This section shall be read and construed as subject to any law of the Commonwealth of Australia relating to bankruptcy. Division 3—Sales by sheriff etc. No. 5842 s. 52.