Document ID: chunk:federal_register_of_legislation:C2025C00134:section:138
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 138
Character Range: 778541–780560

138  Property vesting orders
 (1) If a person is appointed as acting trustee, the Regulator must make a written order vesting the property of the entity concerned in the acting trustee.
 (2) If the appointment of the acting trustee comes to an end, the Regulator must make a written order vesting the property of the entity concerned in:
 (a) if there is to be a fresh acting trustee—the fresh acting trustee; or
 (b) if the acting trustee acted during a period of suspension of the actual trustee and the suspension has come to an end—the actual trustee; or
 (c) if the acting trustee acted because of a vacancy in the position of actual trustee and the acting trustee's appointment has come to an end because the vacancy in the position of actual trustee has been filled by a new actual trustee—the actual trustee.
 (3) If an order is made by the Regulator under this section vesting property of a superannuation entity in a person:
 (a) if the property was vested in law in the trustee—subject to subsections (4) and (5), the property immediately vests in law in the person named in the order by force of this Act; and
 (b) if the property was vested in equity in the trustee—the property immediately vests in equity in the person named in the order by force of this Act.
 (4) If:
 (a) the property is of a kind whose transfer or transmission may be registered under a law of the Commonwealth, of a State or of a Territory; and
 (b) that law enables the registration of such an order;
the property does not vest in that person at law until the requirements of the law referred to in paragraph (a) have been complied with.
 (5) If:
 (a) the property is of a kind whose transfer or transmission may be registered under a law of the Commonwealth, of a State or of a Territory; and
 (b) that law enables the person named in the order to be registered as the owner of that property;
the property does not vest in that person at law until the requirements of the law referred to in paragraph (a) have been complied with.