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

Schedule 1   Corporations Act 2001

Part 3   Charges and chargees

Divison 1   Specific amendments

44   Paragraphs 443B(7)(b) and (c)

Repeal the paragraphs, substitute:

(b) under an agreement or instrument under which a security interest in the property is created or arises:

(i) the secured party appoints an agent to enter into possession, or to assume control, of the property; or

(ii) the secured party takes possession, or assumes control, of the property;