Commonwealth Numbered Acts Commonwealth Numbered Acts
1 Section 5 (definition of PPSA security interest )
Repeal the definition, substitute:
"PPSA security interest" (short for Personal Property Securities Act security interest) means a security interest within the meaning of the Personal Property Securities Act 2009 and to which that Act applies, other than a transitional security interest within the meaning of that Act.
Note 1: The Personal Property Securities Act 2009 applies to certain security interests in personal property. See the following provisions of that Act:
(a) section 8 (interests to which the Act does not apply);
(b) section 12 (meaning of security interest );
(c) Chapter 9 (transitional provisions).
Note 2: For the meaning of transitional security interest , see section 308 of the Personal Property Securities Act 2009 .
Note: This amendment replaces the definition inserted by item 1 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009 .
2 Subsection 4(1) (definition of PPSA security interest )
Repeal the definition, substitute:
"PPSA security interest" (short for Personal Property Securities Act security interest) means a security interest within the meaning of the Personal Property Securities Act 2009 and to which that Act applies, other than a transitional security interest within the meaning of that Act.
Note 1: The Personal Property Securities Act 2009 applies to certain security interests in personal property. See the following provisions of that Act:
(a) section 8 (interests to which the Act does not apply);
(b) section 12 (meaning of security interest );
(c) Chapter 9 (transitional provisions).
Note 2: For the meaning of transitional security interest , see section 308 of the Personal Property Securities Act 2009 .
Note: This amendment replaces the definition inserted by item 1 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009 .
Mutual Assistance in Criminal Matters Act 1987
3 At the end of section 35J
Add:
(4) Subsection 73(2) of the Personal Property Securities Act 2009 applies to the charge (to the extent, if any, to which that Act applies in relation to the property charged).
Note 1: The effect of this subsection is that the priority between the charge and a security interest in the property to which the Personal Property Securities Act 2009 applies is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009 .
Note 2: Subsection 73(2) of the Personal Property Securities Act 2009 applies to charges created by this section after the commencement of subsection (4) (which is at the registration commencement time within the meaning of the Personal Property Securities Act 2009 ).
4 Subsection 35L(4) (definition of registration authority )
Repeal the definition, substitute:
"registration authority" , in relation to property of a particular kind, means:
(a) an authority responsible for administering a law of the Commonwealth, a State or a Territory providing for registration of title to, or charges over, property of that kind; or
(b) the Registrar of Personal Property Securities, if the Personal Property Securities Act 2009 provides for the registration of data in relation to that kind of personal property for the purposes of paragraph 148(c) of that Act.
Note: The Personal Property Securities Act 2009 provides for the registration of such data if regulations are made for the purposes of paragraph 148(c) of that Act.
5 Subsection 6(1) (definition of PPSA security interest )
Repeal the definition, substitute:
"PPSA security interest" (short for Personal Property Securities Act security interest) means a security interest within the meaning of the Personal Property Securities Act 2009 and to which that Act applies, other than a transitional security interest within the meaning of that Act.
Note 1: The Personal Property Securities Act 2009 applies to certain security interests in personal property. See the following provisions of that Act:
(a) section 8 (interests to which the Act does not apply);
(b) section 12 (meaning of security interest );
(c) Chapter 9 (transitional provisions).
Note 2: For the meaning of transitional security interest , see section 308 of the Personal Property Securities Act 2009 .
Note: This amendment replaces the definition inserted by item 6 of Schedule 3 to the Personal Property Securities (Consequential Amendments) Act 2009 .
Offshore Petroleum and Greenhouse Gas Storage Act 2006
6 Section 7 (definition of charge )
Repeal the definition.
7 Section 7 (definition of debenture )
Repeal the definition.
8 Subsections 489(5) and (6)
Repeal the subsections.
9 Paragraph 490(2)(c)
Omit "instrument;", substitute "instrument.".
10 Paragraph 490(2)(d)
Repeal the paragraph.
11 Subsections 499(5) and (6)
Repeal the subsections.
12 Paragraph 500(2)(c)
Omit "instrument;", substitute "instrument.".
13 Paragraph 500(2)(d)
Repeal the paragraph.
14 Subsections 540(5) and 549(5)
Repeal the subsections.
15 Transitional--repeal of definition of debenture
The amendment made by item 7 applies in relation to dealings taking place after the time that item commences.
Note 1: Sections 468 and 520 of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 are about dealings in series of debentures.
Note 2: Item 7 of this Schedule commences at the registration commencement time within the meaning of section 306 of the Personal Property Securities Act 2009 (as provided by section 2 of this Act).
16 Schedule 1 (Dictionary) (definition of PPSA security interest )
Repeal the definition, substitute:
"PPSA security interest" (short for Personal Property Securities Act security interest) means a security interest within the meaning of the Personal Property Securities Act 2009 and to which that Act applies, other than a transitional security interest within the meaning of that Act.
Note 1: The Personal Property Securities Act 2009 applies to certain security interests in personal property. See the following provisions of that Act:
(a) section 8 (interests to which the Act does not apply);
(b) section 12 (meaning of security interest );
(c) Chapter 9 (transitional provisions).
Note 2: For the meaning of transitional security interest , see section 308 of the Personal Property Securities Act 2009 .
Note: This amendment replaces the definition inserted by item 14 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009 .
Personal Property Securities (Consequential Amendments) Act 2009
17 Item 17 of Schedule 1
Repeal the item.
Note: The repealed item is redundant because of the amendment in item 2 of this Schedule.
18 At the end of section 142
Add:
(4) Subsection 73(2) of the Personal Property Securities Act 2009 applies to the charge (to the extent, if any, to which that Act applies in relation to the property charged).
Note 1: The effect of this subsection is that the priority between the charge and a security interest in the property to which the Personal Property Securities Act 2009 applies is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009 .
Note 2: Subsection 73(2) of the Personal Property Securities Act 2009 applies to charges created by this section after the commencement of subsection (4) (which is at the registration commencement time within the meaning of the Personal Property Securities Act 2009 ).
19 At the end of section 143
Add:
(3) In this section:
"registration" of a charge on a particular kind of personal property within the meaning of the Personal Property Securities Act 2009 includes the registration of data in relation to that kind of property for the purposes of paragraph 148(c) of that Act.
Note: The Personal Property Securities Act 2009 provides for the registration of such data only if regulations are made for the purposes of paragraph 148(c) of that Act.
20 At the end of section 169
Add:
(4) Subsection 73(2) of the Personal Property Securities Act 2009 applies to the charge (to the extent, if any, to which that Act applies in relation to the property charged).
Note 1: The effect of this subsection is that the priority between the charge and a security interest in the property to which the Personal Property Securities Act 2009 applies is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009 .
Note 2: Subsection 73(2) of the Personal Property Securities Act 2009 applies to charges created by this section after the commencement of subsection (4) (which is at the registration commencement time within the meaning of the Personal Property Securities Act 2009 ).
21 At the end of section 170
Add:
(3) In this section:
"registration" of a charge on a particular kind of personal property within the meaning of the Personal Property Securities Act 2009 includes the registration of data in relation to that kind of property for the purposes of paragraph 148(c) of that Act.
Note: The Personal Property Securities Act 2009 provides for the registration of such data only if regulations are made for the purposes of paragraph 148(c) of that Act.
22 Section 302
Before "If a charge", insert "(1)".
23 At the end of section 302
Add:
(2) Subsection 73(2) of the Personal Property Securities Act 2009 applies to the commission's charge (to the extent, if any, to which that Act applies in relation to the property charged).
Note 1: The effect of this subsection is that the priority between the commission's charge and a security interest in the property to which the Personal Property Securities Act 2009 applies is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009 .
Note 2: Subsection 73(2) of the Personal Property Securities Act 2009 applies to commission charges created by section 300 after the commencement of subsection (2) (which is at the registration commencement time within the meaning of the Personal Property Securities Act 2009 ).
24 Section 302C
Before "If a charge", insert "(1)".
25 At the end of section 302C
Add:
(2) Subsection 73(2) of the Personal Property Securities Act 2009 applies to the Commonwealth's charge (to the extent, if any, to which that Act applies in relation to the property charged).
Note 1: The effect of this subsection is that the priority between the Commonwealth's charge and a security interest in the property to which the Personal Property Securities Act 2009 applies is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009 .
Note 2: Subsection 73(2) of the Personal Property Securities Act 2009 applies to Commonwealth charges created by section 302A after the commencement of subsection (2) (which is at the registration commencement time within the meaning of the Personal Property Securities Act 2009 ).
26 After subsection 307(3)
Insert:
(3A) Subsection 73(2) of the Personal Property Securities Act 2009 applies to a charge created by subsection (1) (to the extent, if any, to which that Act applies in relation to the property charged).
Note 1: The effect of this subsection is that the priority between the charge and a security interest in the property to which the Personal Property Securities Act 2009 applies is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009 .
Note 2: Subsection 73(2) of the Personal Property Securities Act 2009 applies to charges created by subsection (1) after the commencement of subsection (3A) (which is at the registration commencement time within the meaning of the Personal Property Securities Act 2009 ).
27 At the end of section 307
Add:
(5) In this section:
"registration" of a charge on a particular kind of personal property within the meaning of the Personal Property Securities Act 2009 includes the registration of data in relation to that kind of property for the purposes of paragraph 148(c) of that Act.
Note: The Personal Property Securities Act 2009 provides for the registration of such data if regulations are made for the purposes of paragraph 148(c) of that Act.
28 Section 338 (definition of registration authority )
Repeal the definition, substitute:
"registration authority" , in relation to property of a particular kind, means:
(a) an authority responsible for administering a law of the Commonwealth, a State or a Territory providing for registration of title to, or charges over, property of that kind; or
(b) the Registrar of Personal Property Securities, if the Personal Property Securities Act 2009 provides for the registration of data in relation to that kind of personal property for the purposes of paragraph 148(c) of that Act.
Note: The Personal Property Securities Act 2009 provides for the registration of such data if regulations are made for the purposes of paragraph 148(c) of that Act.
Torres Strait Fisheries Act 1984
29 Subsection 3(1) (definition of PPSA security interest )
Repeal the definition, substitute:
"PPSA security interest" (short for Personal Property Securities Act security interest) means a security interest within the meaning of the Personal Property Securities Act 2009 and to which that Act applies, other than a transitional security interest within the meaning of that Act.
Note 1: The Personal Property Securities Act 2009 applies to certain security interests in personal property. See the following provisions of that Act:
(a) section 8 (interests to which the Act does not apply);
(b) section 12 (meaning of security interest );
(c) Chapter 9 (transitional provisions).
Note 2: For the meaning of transitional security interest , see section 308 of the Personal Property Securities Act 2009 .
Note: This amendment replaces the definition inserted by item 19 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009 .
30 Section 6 (definition of PPSA security interest )
Repeal the definition, substitute:
"PPSA security interest" (short for Personal Property Securities Act security interest) means a security interest within the meaning of the Personal Property Securities Act 2009 and to which that Act applies, other than a transitional security interest within the meaning of that Act.
Note 1: The Personal Property Securities Act 2009 applies to certain security interests in personal property. See the following provisions of that Act:
(a) section 8 (interests to which the Act does not apply);
(b) section 12 (meaning of security interest );
(c) Chapter 9 (transitional provisions).
Note 2: For the meaning of transitional security interest , see section 308 of the Personal Property Securities Act 2009 .
Note: This amendment replaces the definition inserted by item 18 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009 .
[ Minister's second reading speech made in--
House of Representatives on 10 March 2010
Senate on 15 June 2010 ]
|
(50/10) |