Queensland Numbered Acts

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PERSONAL PROPERTY SECURITIES (ANCILLARY PROVISIONS) ACT 2010 No. 44 - SECT 225

225 Amendment of s 46A (Seizing certain vehicles for sale)

(1) Section 46A(7), 'as follows'--

omit, insert--

'in the following order'.

(2) Section 46A(7)(a), 'firstly,'--

omit.

(3) Section 46A(7)(b), 'secondly,'--

omit.

(4) Section 46A(7)(c), 'thirdly,'--

omit.

(5) Section 46A(7)(c), as amended--

renumber as section 46A(7)(d).

(6) Section 46A(7)--

insert--

'(c) if there is an amount owing to an entity under a security interest registered for the vehicle under the Personal Property Securities Act 2009 (Cwlth)--in payment of the amount owing under the security interest;'.

(7) Section 46A--

insert--

'(7A) A secured party can not enforce any security interest in the proceeds of sale against an entity to whom an amount is payable under subsection (7)(a) or (b).'.

(8) Section 46A--

insert--

'(10) In this section--

secured party has the meaning given by the Personal Property Securities Act 2009 (Cwlth), section 10.'.



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