Commonwealth Consolidated Acts

PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 235

Location of personal property

  (1)   For the purposes of this Act, personal property (including chattel paper, an investment instrument and a negotiable instrument) is located in the particular jurisdiction in which the personal property is situated.

  (2)   However:

  (a)   an investment instrument that is not evidenced by a certificate is located in the jurisdiction the law of which governs the transfer of the investment instrument; and

  (b)   a negotiable instrument that is evidenced by an electronic record is located in the jurisdiction the law of which governs the negotiable instrument; and

  (c)   chattel paper that is evidenced by an electronic record is located in the jurisdiction the law of which governs the chattel paper.

Location of a person

  (3)   A body corporate is located in the jurisdiction in which the body corporate is incorporated.

  (4)   A body politic is located in the jurisdiction of the body politic.

  (5)   An individual is located at the individual's principal place of residence.

Location within Australia

  (6)   For the purposes of this Act, in the application of this section in relation to Australia:

  (a)   the jurisdiction in which personal property is located under subsection   (1), or in which an individual is located under subsection   (5), is the jurisdiction of the State or Territory in which the property, or the individual's principal place of residence, is situated (as the case may be); and

  (b)   a reference to the law of that jurisdiction is a reference to the law of that State or Territory, and to the law of the Commonwealth as it applies in that State or Territory.

Location within a foreign country that has a federal character

  (7)   For the purposes of this Act, in the application of this section in relation to a foreign country that is divided into territorial units that have their own rules of law about security interests (distinct from those that apply to the foreign country generally):

  (a)   the jurisdiction in which personal property is located under subsection   (1), or in which an individual is located under subsection   (5), is the jurisdiction of the territorial unit in which the property, or the individual's principal place of residence, is situated; and

  (b)   a reference to the law of that jurisdiction is a reference to the law of that territorial unit, and to the law of the foreign country as it applies in that territorial unit.