Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 273

(1)

Where, whether before or after the prescribed time, a notice in relation to a charge is required to be lodged under this Part:

(a)

the charge need not be registered under a specified law of this jurisdiction; and

(b)

no provision of a specified law of this jurisdiction relating to priorities applies to or in relation to the charge; and

(c)

a failure to register the charge under a specified law of this jurisdiction does not affect the validity, or limit the effect, of the charge.

(2)

Where:

(a)

a transfer, assignment, or giving of security, by a company is registrable under a specified law of this jurisdiction;

(b)

notice in relation to the transfer, assignment or giving of security is required to be lodged under this Part; and

(c)

the transfer, assignment or giving of security is registered under this Part;

then:

(d)

the transfer, assignment or giving of security is, subject to paragraph (1)(b), as valid and effectual; and

(e)

by force of this subsection, the specified provisions (if any) of a law of this jurisdiction have effect, with the prescribed modifications (if any), in relation to the transfer, assignment or giving of security;

as if it had been duly registered under that specified law.

(3)

Where:

(a)

a crop lien, wool lien, or stock mortgage, given by a company is registrable under a specified law of this jurisdiction;

(b)

notice in relation to the crop lien, wool lien, or stock mortgage, is required to be lodged under this Part; and

(c)

the crop lien, wool lien, or stock mortgage, is registered under this Part;

then:

(d)

the crop lien, wool lien or stock mortgage is, subject to paragraph (1)(b), as valid and effectual; and

(e)

by force of this subsection, the specified provisions (if any) of a law of this jurisdiction have effect, with the prescribed modifications (if any), in relation to the crop lien, wool lien, or stock mortgage;

as if it had been duly registered under that specified law.

(4)

Subject to this Chapter, the regulations may provide that specified provisions of a law of this jurisdiction:

(a)

do not apply; or

(b)

apply, because of the regulations and with the prescribed modifications (if any);

in relation to specified charges in relation to which notices must be lodged under this Part.

(5)

Nothing in this section applies in relation to a charge given by a company jointly with another person who is not, or other persons at least one of whom is not, a company.

(6)

In this section: