Commonwealth Numbered Acts Commonwealth Numbered Acts(1) A person may apply to the Registrar to register a financing statement with respect to:
(a) a security interest; or
(b) personal property prescribed by regulations made for the purposes of paragraph 148(c).
(2) A person may apply to the Registrar to register a financing change statement to amend a registered financing statement.
(3) The Registrar must register the financing statement or financing change statement in accordance with the application, but only if:
(a) the application is in the approved form; and
(b) the fee (if any) determined under section 190 has been paid; and
(c) the Registrar is not satisfied that the application is:
(i) frivolous, vexatious or offensive, or contrary to the public interest; or
(ii) made in contravention of section 151 (belief that collateral secures obligation); and
(d) the registration would not be prohibited by the regulations.
Note 1: Section 161 authorises the description of collateral by a registration before or after a security agreement is made covering the collateral, or a security interest has attached to the collateral.
Note 2: The Registrar must give a verification statement to each secured party after the registration of a financing statement or a financing change statement (see section 156).
Note 3: Application may be made to the Administrative Appeals Tribunal for review of certain decisions of the Registrar about registration (see section 191).
Note 4: The requirement to pay a fee is satisfied if an arrangement for its payment has been approved under subsection 190(4).