Commonwealth Consolidated Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2006 - SECT 530

Scope

  (1)   This section applies if the Titles Administrator approves the transfer of a title.

Endorsement

  (2)   The Titles Administrator must immediately endorse a memorandum of approval on the instrument of transfer.

  (3)   The Titles Administrator must enter in the Register a memorandum of:

  (a)   the transfer; and

  (b)   the name of the transferee or of each transferee.

  (4)   On the entry in the Register of the memorandum:

  (a)   the transfer is taken to be registered; and

  (b)   the transferee becomes the registered holder, or the transferees become the registered holders, of the title.

  (5)   If the transfer is registered:

  (a)   a copy of the instrument of transfer endorsed with the memorandum of approval must be:

  (i)   retained by the Titles Administrator; and

  (ii)   made available for inspection in accordance with this Chapter; and

  (b)   if the instrument of transfer was provided in hard copy--the instrument of transfer endorsed with the memorandum of approval must be returned to the person who applied for approval of the transfer; and

  (c)   if the instrument of transfer was provided electronically--a copy of the instrument of transfer endorsed with the memorandum of approval must be given to the person who applied for approval of the transfer.