Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p8
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 18304–21051

contract; and
     (b) any reference in the contract to the Corporation were (except in relation to things that happened before that day) a reference to the Commonwealth.
"(3) If, immediately before the winding-up day, prescribed proceedings to which the Corporation was a party were pending in any court, the Commonwealth is, on that day, by force of this subsection, substituted for

the Corporation as a party to the proceedings and has the same rights in the proceedings as the Corporation had.
"(4) Where any interest in land situated in a State or Territory vests in the Commonwealth under this section, the Secretary may lodge with the Registrar-General, Registrar of Titles or other appropriate officer of that State or Territory a notice signed by the Secretary, or by a person authorised by the Secretary for the purpose, stating that that interest is vested in the Commonwealth by this section, and the person with whom the notice is so lodged may make such entries in his or her registers, and do such other things, as are necessary to reflect the vesting of that interest in the Commonwealth.
"(5) In this section:
     'prescribed contract' means a contract other than a contract referred to in section 6b or an insurance contract within the meaning of section 38b;
     'prescribed debt' means any debt, liability or obligation other than a debt, liability or obligation referred to in section 6b or an insurance debt within the meaning of section 38b;
     'prescribed proceedings' means proceedings other than proceedings referred to in section 6b or insurance proceedings within the meaning of section 38b;
     'prescribed right' means any right, property or assets other than a right, title or interest referred to in section 6b or an insurance right within the meaning of section 38b.".
10. Parts III, IV, V and VI of the Principal Act are repealed and the following Parts are substituted:

"PART III—NOTICES OF ELIGIBILITY AND CERTIFICATES OF ENTITLEMENT

Applications for notices and certificates
"15. (1) A person may apply to the Secretary for any of the following:
     (a) a notice of eligibility;
     (b) a certificate of entitlement in relation to subsidy on a subsidised advance that the person may seek from the Bank;
     (c) a certificate of entitlement in relation to consent that the person may seek from the Bank to a transfer;
     (d) a certificate of entitlement in relation to instalment relief that the person may seek from the Bank.
"(2) An application shall be in writing in accordance with the appropriate form approved by the Secretary for the purposes of this section and shall be made in accordance with the agreement.

Notice of eligibility
"16. (1) Where, on application by a person for a notice