Victorian Current Acts Victorian Current Acts(1) Despite the commencement of section 15 of the 2010 Act, the provisions of Part VIII of the Instruments Act 1958 (other than section 76), as in force immediately before that commencement, are taken to continue to apply to a current stock mortgage until the amount due or secured by the mortgage is paid or satisfied to the person entitled to receive or give a discharge for the mortgage.
Note
Chapter 9 of the Personal Property Securities Act 2009 of the Commonwealth provides for transitional arrangements for stock mortgages.
An amendment demand under Part 5.6 of the Personal Property Securities Act 2009 of the Commonwealth may be used to cause a migrated stock mortgage that has been discharged to be removed from the Personal Property Securities Register.
(2) If a registered stock mortgage becomes a migrated security interest within the meaning of the Personal Property Securities Act 2009 of the Commonwealth, the date (if any) recorded in the Personal Property Securities Register established under Chapter 5 of that Act as the date on which the interest was originally registered is, in the absence of evidence to the contrary, taken to be the date on which the interest was originally registered under this Act.
(3) An agreement executed before the
commencement time that has not been (but could have been) registered in the
office of the Registrar-General in accordance with section 72 immediately
before the commencement time is taken to have effect as an agreement to which
that section applies immediately before that time.