Commonwealth Consolidated Acts

PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 308

    In this Act:

"transitional security interest" means a security interest provided for by a transitional security agreement, if:

  (a)   in the case of a security interest arising before the registration commencement time--this Act would have applied in relation to the security interest immediately before the registration commencement time, but for section   310; or

  (b)   in the case of a security interest arising at or after the registration commencement time:

  (i)   the transitional security agreement as in force immediately before the registration commencement time provides for the granting of the security interest; and

  (ii)   this Act applies in relation to the security interest.

Note:   Section   310 provides that this Act only starts to apply to security interests at the registration commencement time.