Involved in the degradation and assimilation of (+)-camphor, which allows P.putida strain NCIMB 10007 to grow on this enantiomer of camphor as the sole carbon source. Catalyzes the FMNH(2)-dependent lactonization of 2,5-diketocamphane via a Baeyer-Villiger oxidation to produce the unstable lactone 5-oxo-1,2-campholide with (R,R) configuration, that presumably undergoes spontaneous hydrolysis to form 2-oxo-Delta(3)-4,5,5-trimethylcyclopentenylacetate (By similarity). Is also able to convert (+)-camphor and norcamphor to the corresponding lactone in vitro. Shows no conversion of (-)-camphor, (+)-fenchone, (-)-fenchone, and (+)-nopinone. Acts on other bicyclic ketones and, to a lesser extent, on some 2- and 4-substituted monocyclic ketones (PubMed:23524667). (1R,4R)-bornane-2,5-dione + FMNH2 + O2 = (1R,4R)-5-oxo-1,2-campholide + FMN + H(+) + H2O Optimum pH is 8.0. Terpene metabolism; (R)-camphor degradation. Homodimer. Likely forms a loose transient complex with a P.putida flavin reductase that provides the required FMNH(2) to the enzyme. Belongs to the bacterial luciferase oxidoreductase family.