Commonwealth Consolidated Acts

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PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 139

Guide to this Part

This Part   contains rules about steps to be taken after a security interest in collateral has been enforced.

These rules deal with the following:

  (a)   the order of distribution of personal property or its proceeds;

  (b)   the transfer of title to collateral;

  (c)   redemption of collateral, or the reinstatement of security agreements, before disposal;

  (d)   when certain enforcement notices are not required.

A person exercising or discharging rights, duties and obligations arising under this Part   must act honestly and in a commercially reasonable manner (see section   111).


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