Personal Property Securities (Corporations and Other Amendments) Act 2010 (96 of 2010)

Schedule 2   Personal Property Securities Act 2009

Part 1   Specific amendments

1   Section 3

Omit:

(a) it has attached to collateral; and

(b) certain extra steps (possession or control of the collateral, or registration on the Register of Personal Property Securities) have been taken to protect the interest, or the interest is perfected by force of this Act.

Substitute:

(a) it has attached to collateral; and

(b) it is enforceable against third parties; and

(c) certain extra steps (possession or control of the collateral, or registration on the Register of Personal Property Securities) have been taken to protect the interest.

Certain security interests are also declared to be temporarily perfected, or perfected, under this Act.