14Certificates in relation to assets other than land

14 Certificates in relation to assets other than land

(1) This section applies if: (a) an asset other than land vests in a restructuring body under this Division; and (b) there is lodged with an assets official a certificate that: (i) is signed by the Minister; and (ii) identifies the asset; and (iii) states that the asset has become vested in the restructuring body under this Division. (2) The assets official may: (a) deal with, and give effect to, the certificate as if it were a proper and appropriate instrument for transactions in relation to assets of that kind; and (b) make such entries in the register as are necessary having regard to the effect of this Division. (3) In this section:

assets official means the person or authority who, under a law of the Commonwealth, a State or a Territory, under a trust instrument or otherwise, has responsibility for keeping a register in relation to assets of the kind concerned.