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

Schedule 2   Intellectual property legislation

Designs Act 2003

3   At the end of section 12

Add:

(4) Subsection (3) does not apply in relation to an equity that is a PPSA security interest.

Note: The Personal Property Securities Act 2009 deals with the rights of purchasers of personal property (including intellectual property such as designs) that is subject to PPSA security interests. That Act also provides for the priority and enforcement of PPSA security interests. See the following provisions of that Act:

(a) Part 2.5 (taking personal property free of security interests);

(b) Part 2.6 (priority between security interests);

(c) Chapter 4 (enforcement of security interests).