Personal Property Securities (Corporations and Other Amendments) Act 2010
No. 96, 2010
An Act to amend certain Acts as a consequence of the enactment of the Personal Property Securities Act 2009, to amend that Act, and for related purposes
Note: An electronic version of this Act is available in ComLaw (http://www.comlaw.gov.au/)
Contents
1 Short title...........................................................................................2 2 Commencement.................................................................................2 3 Schedule(s)........................................................................................4
Schedule 1—Corporations Act 2001 5 Part 1—New concepts 5 Part 2—Repeal of Chapter 2K (registration of charges) 11 Part 3—Charges and chargees 13 Division 1—Specific amendments 13 Division 2—Bulk amendments 19 Part 4—Floating charges 22 Part 5—Security 27 Part 6—Mortgages and mortgagees 29 Part 7—Liens and pledges 30 Part 8—PPSA retention of title property 32 Part 9—Special requirements for security interests 43 Part 10—Transitional provisions 53 Schedule 2—Personal Property Securities Act 2009 58 Part 1—Specific amendments 58 Part 2—Bulk amendments 99 Schedule 3—Amendment of other Acts 101 Designs Act 2003 101 Fisheries Management Act 1991 101 Mutual Assistance in Criminal Matters Act 1987 102 Navigation Act 1912 102 Offshore Petroleum and Greenhouse Gas Storage Act 2006 103 Patents Act 1990 104 Personal Property Securities (Consequential Amendments) Act 2009 105 Proceeds of Crime Act 2002 105
Torres Strait Fisheries Act 1984 108 Trade Marks Act 1995 109
Personal Property Securities (Corporations and Other Amendments) Act 2010
No. 96, 2010
An Act to amend certain Acts as a consequence of the enactment of the Personal Property Securities Act 2009, to amend that Act, and for related purposes
[Assented to 6 July 2010]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Personal Property Securities (Corporations and Other Amendments) Act 2010.
2 Commencement
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details - Sections 1 to 3 The day this Act receives the Royal Assent. 6 July 2010 and anything in this Act not elsewhere covered by this table
- Schedule 1, The registration commencement time within
- items 1 to 185 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 1, The day this Act receives the Royal Assent. 6 July 2010 item 186
- Schedule 1, The registration commencement time within
- item 187 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 2, The day this Act receives the Royal Assent. 6 July 2010 items 1 to 107
- Schedule 2, The registration commencement time within
- item 108 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 2, The day this Act receives the Royal Assent. 6 July 2010 items 109 to 153
- Schedule 3, Immediately after the commencement of
item 1 item 1 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009.
9. Schedule 3, Immediately after the commencement of
Commencement information
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details
item 2 item 1 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. - Schedule 3, The registration commencement time within
- items 3 and 4 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 3, Immediately after the commencement of
item 5 item 6 of Schedule 3 to the Personal Property Securities (Consequential Amendments) Act 2009. - Schedule 3, The registration commencement time within
- items 6 to 15 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 3, Immediately after the commencement of
item 16 item 14 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009.
14. Schedule 3, Immediately after the commencement of
item 17 item 17 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. - Schedule 3, The registration commencement time within
- items 18 to 21 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 3, items 22 and 23
The registration commencement time within the meaning of section 306 of the Personal Property Securities Act 2009.
However, if the Crimes Legislation Amendment (Serious and Organised Crime) Act 2010 receives the Royal Assent before the registration commencement time within the meaning of section 306 of the Personal Property Securities Act 2009, the provision(s) do not commence at all.
17. Schedule 3, The registration commencement time within
items 24 to 28 the meaning of section 306 of the Personal Property Securities Act 2009.
Commencement information
Column 1 Column 2 Column 3 Provision(s) Commencement Date/Details 18. Schedule 3, item 29 Immediately after the commencement of item 19 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. 19. Schedule 3, item 30 Immediately after the commencement of item 18 of Schedule 2 to the Personal Property Securities (Consequential
Amendments) Act 2009.
Note 1: This table relates only to the provisions of this Act as originally passed by both Houses of the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.
Note 2: The registration commencement time, within the meaning of section 306 of the Personal Property Securities Act 2009, is the start of 1 February 2012 (the first day of the month that is 26 months after that Act was given the Royal Assent), or an earlier time determined by the Minister administering that Act, by legislative instrument.
(2) Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.
3 Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Corporations Act 2001 Part 1—New concepts 1 Section 9
Insert: circulating security interest has the meaning given by section 51C.
2 Section 9
Insert:
lease does not include a lease of goods that gives rise to a PPSA
security interest in the goods.
Note: An interest that arises under a lease of goods that in substance secures the payment or performance of an obligation, or that arises under a PPS lease within the meaning of the Personal Property Securities Act 2009, may be a PPSA security interest (see sections 12 and 13 of that Act and the definition of PPSA security interest in section 51 of this Act).
3 Section 9
Insert:
PPSA retention of title property (short for Personal Property Security Act retention of title property) has the meaning given by section 51F.
4 Section 9
Insert:
PPSA security interest (short for Personal Property Security Act
No. 96, 2010
An Act to amend certain Acts as a consequence of the enactment of the Personal Property Securities Act 2009, to amend that Act, and for related purposes
Note: An electronic version of this Act is available in ComLaw (http://www.comlaw.gov.au/)
Contents
1 Short title...........................................................................................2 2 Commencement.................................................................................2 3 Schedule(s)........................................................................................4
Schedule 1—Corporations Act 2001 5 Part 1—New concepts 5 Part 2—Repeal of Chapter 2K (registration of charges) 11 Part 3—Charges and chargees 13 Division 1—Specific amendments 13 Division 2—Bulk amendments 19 Part 4—Floating charges 22 Part 5—Security 27 Part 6—Mortgages and mortgagees 29 Part 7—Liens and pledges 30 Part 8—PPSA retention of title property 32 Part 9—Special requirements for security interests 43 Part 10—Transitional provisions 53 Schedule 2—Personal Property Securities Act 2009 58 Part 1—Specific amendments 58 Part 2—Bulk amendments 99 Schedule 3—Amendment of other Acts 101 Designs Act 2003 101 Fisheries Management Act 1991 101 Mutual Assistance in Criminal Matters Act 1987 102 Navigation Act 1912 102 Offshore Petroleum and Greenhouse Gas Storage Act 2006 103 Patents Act 1990 104 Personal Property Securities (Consequential Amendments) Act 2009 105 Proceeds of Crime Act 2002 105
Torres Strait Fisheries Act 1984 108 Trade Marks Act 1995 109
Personal Property Securities (Corporations and Other Amendments) Act 2010
No. 96, 2010
An Act to amend certain Acts as a consequence of the enactment of the Personal Property Securities Act 2009, to amend that Act, and for related purposes
[Assented to 6 July 2010]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Personal Property Securities (Corporations and Other Amendments) Act 2010.
2 Commencement
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details - Sections 1 to 3 The day this Act receives the Royal Assent. 6 July 2010 and anything in this Act not elsewhere covered by this table
- Schedule 1, The registration commencement time within
- items 1 to 185 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 1, The day this Act receives the Royal Assent. 6 July 2010 item 186
- Schedule 1, The registration commencement time within
- item 187 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 2, The day this Act receives the Royal Assent. 6 July 2010 items 1 to 107
- Schedule 2, The registration commencement time within
- item 108 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 2, The day this Act receives the Royal Assent. 6 July 2010 items 109 to 153
- Schedule 3, Immediately after the commencement of
item 1 item 1 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009.
9. Schedule 3, Immediately after the commencement of
Commencement information
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details
item 2 item 1 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. - Schedule 3, The registration commencement time within
- items 3 and 4 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 3, Immediately after the commencement of
item 5 item 6 of Schedule 3 to the Personal Property Securities (Consequential Amendments) Act 2009. - Schedule 3, The registration commencement time within
- items 6 to 15 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 3, Immediately after the commencement of
item 16 item 14 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009.
14. Schedule 3, Immediately after the commencement of
item 17 item 17 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. - Schedule 3, The registration commencement time within
- items 18 to 21 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 3, items 22 and 23
The registration commencement time within the meaning of section 306 of the Personal Property Securities Act 2009.
However, if the Crimes Legislation Amendment (Serious and Organised Crime) Act 2010 receives the Royal Assent before the registration commencement time within the meaning of section 306 of the Personal Property Securities Act 2009, the provision(s) do not commence at all.
17. Schedule 3, The registration commencement time within
items 24 to 28 the meaning of section 306 of the Personal Property Securities Act 2009.
Commencement information
Column 1 Column 2 Column 3 Provision(s) Commencement Date/Details 18. Schedule 3, item 29 Immediately after the commencement of item 19 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. 19. Schedule 3, item 30 Immediately after the commencement of item 18 of Schedule 2 to the Personal Property Securities (Consequential
Amendments) Act 2009.
Note 1: This table relates only to the provisions of this Act as originally passed by both Houses of the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.
Note 2: The registration commencement time, within the meaning of section 306 of the Personal Property Securities Act 2009, is the start of 1 February 2012 (the first day of the month that is 26 months after that Act was given the Royal Assent), or an earlier time determined by the Minister administering that Act, by legislative instrument.
(2) Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.
3 Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Corporations Act 2001 Part 1—New concepts 1 Section 9
Insert: circulating security interest has the meaning given by section 51C.
2 Section 9
Insert:
lease does not include a lease of goods that gives rise to a PPSA
security interest in the goods.
Note: An interest that arises under a lease of goods that in substance secures the payment or performance of an obligation, or that arises under a PPS lease within the meaning of the Personal Property Securities Act 2009, may be a PPSA security interest (see sections 12 and 13 of that Act and the definition of PPSA security interest in section 51 of this Act).
3 Section 9
Insert:
PPSA retention of title property (short for Personal Property Security Act retention of title property) has the meaning given by section 51F.
4 Section 9
Insert:
PPSA security interest (short for Personal Property Security Act
An Act to amend certain Acts as a consequence of the enactment of the Personal Property Securities Act 2009, to amend that Act, and for related purposes
Note: An electronic version of this Act is available in ComLaw (http://www.comlaw.gov.au/)
Contents
1 Short title...........................................................................................2 2 Commencement.................................................................................2 3 Schedule(s)........................................................................................4
Schedule 1—Corporations Act 2001 5 Part 1—New concepts 5 Part 2—Repeal of Chapter 2K (registration of charges) 11 Part 3—Charges and chargees 13 Division 1—Specific amendments 13 Division 2—Bulk amendments 19 Part 4—Floating charges 22 Part 5—Security 27 Part 6—Mortgages and mortgagees 29 Part 7—Liens and pledges 30 Part 8—PPSA retention of title property 32 Part 9—Special requirements for security interests 43 Part 10—Transitional provisions 53 Schedule 2—Personal Property Securities Act 2009 58 Part 1—Specific amendments 58 Part 2—Bulk amendments 99 Schedule 3—Amendment of other Acts 101 Designs Act 2003 101 Fisheries Management Act 1991 101 Mutual Assistance in Criminal Matters Act 1987 102 Navigation Act 1912 102 Offshore Petroleum and Greenhouse Gas Storage Act 2006 103 Patents Act 1990 104 Personal Property Securities (Consequential Amendments) Act 2009 105 Proceeds of Crime Act 2002 105
Torres Strait Fisheries Act 1984 108 Trade Marks Act 1995 109
Personal Property Securities (Corporations and Other Amendments) Act 2010
No. 96, 2010
An Act to amend certain Acts as a consequence of the enactment of the Personal Property Securities Act 2009, to amend that Act, and for related purposes
[Assented to 6 July 2010]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Personal Property Securities (Corporations and Other Amendments) Act 2010.
2 Commencement
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details - Sections 1 to 3 The day this Act receives the Royal Assent. 6 July 2010 and anything in this Act not elsewhere covered by this table
- Schedule 1, The registration commencement time within
- items 1 to 185 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 1, The day this Act receives the Royal Assent. 6 July 2010 item 186
- Schedule 1, The registration commencement time within
- item 187 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 2, The day this Act receives the Royal Assent. 6 July 2010 items 1 to 107
- Schedule 2, The registration commencement time within
- item 108 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 2, The day this Act receives the Royal Assent. 6 July 2010 items 109 to 153
- Schedule 3, Immediately after the commencement of
item 1 item 1 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009.
9. Schedule 3, Immediately after the commencement of
Commencement information
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details
item 2 item 1 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. - Schedule 3, The registration commencement time within
- items 3 and 4 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 3, Immediately after the commencement of
item 5 item 6 of Schedule 3 to the Personal Property Securities (Consequential Amendments) Act 2009. - Schedule 3, The registration commencement time within
- items 6 to 15 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 3, Immediately after the commencement of
item 16 item 14 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009.
14. Schedule 3, Immediately after the commencement of
item 17 item 17 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. - Schedule 3, The registration commencement time within
- items 18 to 21 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 3, items 22 and 23
The registration commencement time within the meaning of section 306 of the Personal Property Securities Act 2009.
However, if the Crimes Legislation Amendment (Serious and Organised Crime) Act 2010 receives the Royal Assent before the registration commencement time within the meaning of section 306 of the Personal Property Securities Act 2009, the provision(s) do not commence at all.
17. Schedule 3, The registration commencement time within
items 24 to 28 the meaning of section 306 of the Personal Property Securities Act 2009.
Commencement information
Column 1 Column 2 Column 3 Provision(s) Commencement Date/Details 18. Schedule 3, item 29 Immediately after the commencement of item 19 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. 19. Schedule 3, item 30 Immediately after the commencement of item 18 of Schedule 2 to the Personal Property Securities (Consequential
Amendments) Act 2009.
Note 1: This table relates only to the provisions of this Act as originally passed by both Houses of the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.
Note 2: The registration commencement time, within the meaning of section 306 of the Personal Property Securities Act 2009, is the start of 1 February 2012 (the first day of the month that is 26 months after that Act was given the Royal Assent), or an earlier time determined by the Minister administering that Act, by legislative instrument.
(2) Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.
3 Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Corporations Act 2001 Part 1—New concepts 1 Section 9
Insert: circulating security interest has the meaning given by section 51C.
2 Section 9
Insert:
lease does not include a lease of goods that gives rise to a PPSA
security interest in the goods.
Note: An interest that arises under a lease of goods that in substance secures the payment or performance of an obligation, or that arises under a PPS lease within the meaning of the Personal Property Securities Act 2009, may be a PPSA security interest (see sections 12 and 13 of that Act and the definition of PPSA security interest in section 51 of this Act).
3 Section 9
Insert:
PPSA retention of title property (short for Personal Property Security Act retention of title property) has the meaning given by section 51F.
4 Section 9
Insert:
PPSA security interest (short for Personal Property Security Act
Contents
1 Short title...........................................................................................2 2 Commencement.................................................................................2 3 Schedule(s)........................................................................................4
Schedule 1—Corporations Act 2001 5 Part 1—New concepts 5 Part 2—Repeal of Chapter 2K (registration of charges) 11 Part 3—Charges and chargees 13 Division 1—Specific amendments 13 Division 2—Bulk amendments 19 Part 4—Floating charges 22 Part 5—Security 27 Part 6—Mortgages and mortgagees 29 Part 7—Liens and pledges 30 Part 8—PPSA retention of title property 32 Part 9—Special requirements for security interests 43 Part 10—Transitional provisions 53 Schedule 2—Personal Property Securities Act 2009 58 Part 1—Specific amendments 58 Part 2—Bulk amendments 99 Schedule 3—Amendment of other Acts 101 Designs Act 2003 101 Fisheries Management Act 1991 101 Mutual Assistance in Criminal Matters Act 1987 102 Navigation Act 1912 102 Offshore Petroleum and Greenhouse Gas Storage Act 2006 103 Patents Act 1990 104 Personal Property Securities (Consequential Amendments) Act 2009 105 Proceeds of Crime Act 2002 105
Torres Strait Fisheries Act 1984 108 Trade Marks Act 1995 109
Personal Property Securities (Corporations and Other Amendments) Act 2010
No. 96, 2010
An Act to amend certain Acts as a consequence of the enactment of the Personal Property Securities Act 2009, to amend that Act, and for related purposes
[Assented to 6 July 2010]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Personal Property Securities (Corporations and Other Amendments) Act 2010.
2 Commencement
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details - Sections 1 to 3 The day this Act receives the Royal Assent. 6 July 2010 and anything in this Act not elsewhere covered by this table
- Schedule 1, The registration commencement time within
- items 1 to 185 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 1, The day this Act receives the Royal Assent. 6 July 2010 item 186
- Schedule 1, The registration commencement time within
- item 187 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 2, The day this Act receives the Royal Assent. 6 July 2010 items 1 to 107
- Schedule 2, The registration commencement time within
- item 108 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 2, The day this Act receives the Royal Assent. 6 July 2010 items 109 to 153
- Schedule 3, Immediately after the commencement of
item 1 item 1 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009.
9. Schedule 3, Immediately after the commencement of
Commencement information
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details
item 2 item 1 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. - Schedule 3, The registration commencement time within
- items 3 and 4 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 3, Immediately after the commencement of
item 5 item 6 of Schedule 3 to the Personal Property Securities (Consequential Amendments) Act 2009. - Schedule 3, The registration commencement time within
- items 6 to 15 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 3, Immediately after the commencement of
item 16 item 14 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009.
14. Schedule 3, Immediately after the commencement of
item 17 item 17 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. - Schedule 3, The registration commencement time within
- items 18 to 21 the meaning of section 306 of the Personal Property Securities Act 2009.
- Schedule 3, items 22 and 23
The registration commencement time within the meaning of section 306 of the Personal Property Securities Act 2009.
However, if the Crimes Legislation Amendment (Serious and Organised Crime) Act 2010 receives the Royal Assent before the registration commencement time within the meaning of section 306 of the Personal Property Securities Act 2009, the provision(s) do not commence at all.
17. Schedule 3, The registration commencement time within
items 24 to 28 the meaning of section 306 of the Personal Property Securities Act 2009.
Commencement information
Column 1 Column 2 Column 3 Provision(s) Commencement Date/Details 18. Schedule 3, item 29 Immediately after the commencement of item 19 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. 19. Schedule 3, item 30 Immediately after the commencement of item 18 of Schedule 2 to the Personal Property Securities (Consequential
Amendments) Act 2009.
Note 1: This table relates only to the provisions of this Act as originally passed by both Houses of the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.
Note 2: The registration commencement time, within the meaning of section 306 of the Personal Property Securities Act 2009, is the start of 1 February 2012 (the first day of the month that is 26 months after that Act was given the Royal Assent), or an earlier time determined by the Minister administering that Act, by legislative instrument.
(2) Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.
3 Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Corporations Act 2001 Part 1—New concepts 1 Section 9
Insert: circulating security interest has the meaning given by section 51C.
2 Section 9
Insert:
lease does not include a lease of goods that gives rise to a PPSA
security interest in the goods.
Note: An interest that arises under a lease of goods that in substance secures the payment or performance of an obligation, or that arises under a PPS lease within the meaning of the Personal Property Securities Act 2009, may be a PPSA security interest (see sections 12 and 13 of that Act and the definition of PPSA security interest in section 51 of this Act).
3 Section 9
Insert:
PPSA retention of title property (short for Personal Property Security Act retention of title property) has the meaning given by section 51F.
4 Section 9
Insert:
PPSA security interest (short for Personal Property Security Act
Schedule 1—Corporations Act 2001 5 Part 1—New concepts 5 Part 2—Repeal of Chapter 2K (registration of charges) 11 Part 3—Charges and chargees 13 Division 1—Specific amendments 13 Division 2—Bulk amendments 19 Part 4—Floating charges 22 Part 5—Security 27 Part 6—Mortgages and mortgagees 29 Part 7—Liens and pledges 30 Part 8—PPSA retention of title property 32 Part 9—Special requirements for security interests 43 Part 10—Transitional provisions 53 Schedule 2—Personal Property Securities Act 2009 58 Part 1—Specific amendments 58 Part 2—Bulk amendments 99 Schedule 3—Amendment of other Acts 101 Designs Act 2003 101 Fisheries Management Act 1991 101 Mutual Assistance in Criminal Matters Act 1987 102 Navigation Act 1912 102 Offshore Petroleum and Greenhouse Gas Storage Act 2006 103 Patents Act 1990 104 Personal Property Securities (Consequential Amendments) Act 2009 105 Proceeds of Crime Act 2002 105
Torres Strait Fisheries Act 1984 108 Trade Marks Act 1995 109
An Act to amend certain Acts as a consequence of the enactment of the Personal Property Securities Act 2009, to amend that Act, and for related purposes
[Assented to 6 July 2010]
This Act may be cited as the Personal Property Securities (Corporations and Other Amendments) Act 2010.
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information
Provision(s) Commencement Date/Details item 1 item 1 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009.
9. Schedule 3, Immediately after the commencement of
Commencement information
Column 1 Column 2 Column 3
item 2 item 1 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. item 5 item 6 of Schedule 3 to the Personal Property Securities (Consequential Amendments) Act 2009. item 16 item 14 of Schedule 2 to the Personal Property Securities (Consequential Amendments) Act 2009.
14. Schedule 3, Immediately after the commencement of
item 17 item 17 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. The registration commencement time within the meaning of section 306 of the Personal Property Securities Act 2009.
However, if the Crimes Legislation Amendment (Serious and Organised Crime) Act 2010 receives the Royal Assent before the registration commencement time within the meaning of section 306 of the Personal Property Securities Act 2009, the provision(s) do not commence at all.
17. Schedule 3, The registration commencement time within
items 24 to 28 the meaning of section 306 of the Personal Property Securities Act 2009.
Column 1 Column 2 Column 3 Amendments) Act 2009.
Note 1: This table relates only to the provisions of this Act as originally passed by both Houses of the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.
Note 2: The registration commencement time, within the meaning of section 306 of the Personal Property Securities Act 2009, is the start of 1 February 2012 (the first day of the month that is 26 months after that Act was given the Royal Assent), or an earlier time determined by the Minister administering that Act, by legislative instrument.
(2) Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Insert: circulating security interest has the meaning given by section 51C.
2 Section 9
Insert:
lease does not include a lease of goods that gives rise to a PPSA
security interest in the goods.
Note: An interest that arises under a lease of goods that in substance secures the payment or performance of an obligation, or that arises under a PPS lease within the meaning of the Personal Property Securities Act 2009, may be a PPSA security interest (see sections 12 and 13 of that Act and the definition of PPSA security interest in section 51 of this Act).
3 Section 9
Insert:
PPSA retention of title property (short for Personal Property Security Act retention of title property) has the meaning given by section 51F.
4 Section 9
Insert:
PPSA security interest (short for Personal Property Security Act
Personal Property Securities (Corporations and Other Amendments) Act 2010
No. 96, 2010
The Parliament of Australia enacts:
1 Short title
2 Commencement
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details
Commencement information
Provision(s) Commencement Date/Details 18. Schedule 3, item 29 Immediately after the commencement of item 19 of Schedule 1 to the Personal Property Securities (Consequential Amendments) Act 2009. 19. Schedule 3, item 30 Immediately after the commencement of item 18 of Schedule 2 to the Personal Property Securities (Consequential 3 Schedule(s)
Schedule 1—Corporations Act 2001 Part 1—New concepts 1 Section 9