Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This Act operates in a non - referring State, in relation to a security interest in personal property, while:
(a) the obligation secured by the security interest is owed by or to a person covered by subsection (3); or
(b) the grantor of the security interest is a person covered by subsection (3).
(2) This Act operates in a non - referring State, in relation to an interest (other than a security interest) in personal property, while the interest is held by a person covered by subsection (3).
(3) This subsection covers the following persons:
(a) a bankrupt or an insolvent;
(b) an Official Receiver of the estate of a bankrupt, or a registered trustee of a bankrupt, within the meaning of the Bankruptcy Act 1966 ;
(c) a constitutional corporation;
(d) the Commonwealth, or an agency of the Commonwealth.