Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The regulations may make provision in relation to:
(a) giving effect to the Salvage Convention; and
(b) salvage operations, and claims relating to salvage operations, conducted by or on behalf of the Commonwealth, a State, a Territory or the government of a country prescribed by the regulations .
(2) Without limiting subsection ( 1) , the regulations may make provision in relation to:
(a) the action to be taken with respect to vessels and other property saved as a result of salvage operations conducted by or on behalf of the Commonwealth or a State or Territory; and
(b) the execution of bonds for the payment of salvage operations so conducted; and
(c) the taking of security for the performance of bonds executed under regulations made for the purposes of paragraph ( b); and
(d) the adjudication on, and the enforcement of, bonds executed under regulations made for the purposes of paragraph ( b) or under a law that is a law of a country prescribed by the regulations and corresponds with regulations made for the purposes of paragraph ( b) ; and
(e) the conditi ons subject to which claims relating to salvage operations may be made by the seafarers of a Government vessel or a vessel be longing to a foreign country prescribed by the regulations .
(3 ) A charge that arises under subsection ( 2) in relation to a vessel has priority over any PPSA security interest within the meaning of the Personal Property Securities Act 2009 in the vessel.
(4 ) Subsection 73(2) of the Personal Property Securities Act 2009 applies to a charge that arises under subsection ( 2).
Note : The effect of this subsection is that the priority between a charge that arises under subsection ( 2) and a PPSA security interest is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009 .
(5) Section 10 does not limit this section.