Commonwealth Numbered Acts

PERSONAL PROPERTY SECURITIES ACT 2009 (NO. 130, 2009) - SECT 18

             (1)  A security agreement is effective according to its terms.

             (2)  A security agreement may provide for security interests in after‑acquired property.

             (3)  A security interest in after‑acquired property attaches without specific appropriation by the grantor.

             (4)  A security agreement may provide for future advances.

             (5)  A security interest is taken to secure reasonable expenses in relation to the enforcement of the security interest, unless the parties agree otherwise.