Proceeds of Crime Act 2002

CHAPTER 4 - ADMINISTRATION  

PART 4-4 - CHARGES OVER RESTRAINED PROPERTY FOR PAYMENT OF CERTAIN AMOUNTS  

View history reference

CCH Note: Part 4-4 heading will be substituted by No 4 of 2010, s 3 and Sch 1 item 214, effective 19 May 2010. The heading will read:

PART 4-4 - CHARGES OVER RESTRAINED PROPERTY TO SECURE CERTAIN AMOUNTS PAYABLE TO THE COMMONWEALTH

Division 2 - Charges to secure certain amounts payable to the Commonwealth  

CCH Note: Div 2 heading will be repealed by No 4 of 2010, s 3 and Sch 1 item 216, effective 19 May 2010.

SECTION 302C   Priority of charge  

View history reference

302C(1)    
If a charge is created under section 302A in favour of the Commonwealth, the Commonwealth's charge:

(a) is subject to every * encumbrance on the property (other than an encumbrance in which the person who is liable to pay the amount owing under subsection 293(3) has an *interest) that came into existence before it and that would otherwise have priority; and

(b) has priority over all other encumbrances; and

(c) subject to section 302B , is not affected by any change of ownership of the property.

 View history note

 Hide history note

History

S 302C(1) renumbered from s 302C by No 96 of 2010, s 3 and Sch 3 item 24, by inserting " (1) " before " If a charge " , effective 30 January 2012.

S 302C amended by No 4 of 2010, s 3 and Sch 1 item 217, by inserting " (other than an encumbrance in which the person who is liable to pay the amount owing under subsection 293(3) has an *interest) " after " property " in para (a), applicable in relation to charges created on or after 20 February 2010.

302C(2)    

View history reference

Subsection 73(2) of the Personal Property Securities Act 2009 applies to the Commonwealth ' s charge (to the extent, if any, to which that Act applies in relation to the property charged).

Note 1:

The effect of this subsection is that the priority between the Commonwealth ' s charge and a security interest in the property to which the Personal Property Securities Act 2009 applies is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009 .

Note 2:

Subsection 73(2) of the Personal Property Securities Act 2009 applies to Commonwealth charges created by section 302A after the commencement of subsection (2) (which is at the registration commencement time within the meaning of the Personal Property Securities Act 2009 ).

 View history note

 Hide history note

History

S 302C(2) inserted by No 96 of 2010, s 3 and Sch 3 item 25, effective 30 January 2012.

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.