DEFENCE SERVICE HOMES ACT 1918 - SECT 6C Dealings relating to vested portfolio assets

DEFENCE SERVICE HOMES ACT 1918 - SECT 6C

  (1)   Where the Corporation, or any of its predecessors, is registered in a State or Territory as the owner of an interest in a portfolio asset which vests in the Bank under section   6B, the Bank may, subject to the Bank agreement, execute any receipt, discharge or other instrument in relation to that interest in its own name, or in the name of the Corporation or the Corporation's predecessor, as the case may be, and the Registrar - General, Registrar of Titles, or other appropriate officer, of that State or Territory may make such entries in his or her registers, and do such other things, as are necessary to give effect to that receipt, discharge or other instrument.

  (2)   The Bank may execute a transfer of land and a dwelling - house to the purchaser of that land and dwelling - house under a contract of sale which vests in the Bank under section   6B and any transfer so executed shall be taken to have been made pursuant to and in conformity with the contract of sale.

  (3)   A transfer referred to in subsection   (2) is not liable to any ad valorem tax under a State or Territory law if that ad valorem tax has been paid on the relevant contract of sale.