Commonwealth Numbered Acts

PERSONAL PROPERTY SECURITIES ACT 2009 (NO. 130, 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.