Commonwealth Numbered Acts

PERSONAL PROPERTY SECURITIES ACT 2009 (NO. 130, 2009) - SECT 328

                   If this Division applies to a transitional security interest:

                     (a)  a provision of this Act by force of which a person takes collateral free of a security interest applies in relation to the transitional security interest at the applicable time; and

                     (b)  in the circumstances set out in subsection 267(1), sections 267, 268 and 269 apply to the interest at the applicable time.

Note:          Sections 267, 268 and 269 provide for unperfected security interests to vest in the grantor in the circumstances described in subsection 267(1).