Commonwealth Consolidated Regulations

PERSONAL PROPERTY SECURITIES REGULATIONS 2010 - REG 2.2

    For paragraph   45(3)(b) of the Act, the seller or lessor of a motor vehicle is in a prescribed class if the seller or lessor:

  (a)   holds a licence (however described) to deal or trade in that kind of motor vehicle; and

  (b)   the licence is issued by a licensing authority in the State or Territory where the sale or lease of the motor vehicle happens.

Note:   This Part heading is reserved for future use.