Commonwealth Consolidated Acts

BANK INTEGRATION ACT 1991 - SECT 25

  (1)   Where:

  (a)   an asset (other than an interest in land) becomes, under this Act, an asset of a receiving bank; and

  (b)   there is lodged with the person or authority who has, under a law of the Commonwealth, a State or a Territory, responsibility for keeping a register in respect of assets of that kind a certificate that:

  (i)   is signed by an authorised person; and

  (ii)   identifies the asset; and

  (iii)   states that the asset has, under this Act, become an asset of the receiving bank;

that person or authority may:

  (c)   register the matter in the same manner as transactions in relation to assets of that kind are registered; and

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

  (2)   This section does not affect the operations of the Corporations Act 2001 .