Personal Property Securities (Consequential Amendments) Act 2009 (131 of 2009)

Schedule 3   Maritime legislation

Shipping Registration Act 1981

33   Application - items 15, 17 to 19 and 22 to 24

(1) The amendments of the Shipping Registration Act 1981 made by items 15, 17 to 19 and 22 to 24 of this Schedule apply in relation to an interest of a mortgagor in a mortgage of a ship, or of a share in a ship, regardless of when the interest arose.

(2) However, interests that are mortgages registered under the Shipping Registration Act 1981 before the time the items covered by subitem (1) commence have the priority between themselves that they would have had under that Act as in force immediately before that time, subject to Chapter 9 (Transitional provisions) of the Personal Property Securities Act 2009.