South Australian Numbered Acts

STATUTES AMENDMENT (PERSONAL PROPERTY SECURITIES) ACT 2011 (NO 11 OF 2011) - SECT 57

57—Amendment of section 5—Stock mortgages

        (1)         Section 5—delete "Every mortgage" and substitute:

Subject to this section, every mortgage

        (2)         Section 5—delete "to this Act" and substitute:

before the registration commencement time

        (3)         Section 5—after its present contents as amended by this section (now to be designated as subsection (1)) insert:

        (2)         A mortgage of stock is not to be registered in the general registry office following the last business day before the registration commencement time.