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

Schedule 4   Personal Property Securities Act 2009

11   After subsection 14(2)

Insert:

(2A) Despite paragraph (2)(c), a purchase money security interest includes an interest if:

(a) the interest is covered by subsection (1); and

(b) the interest is in collateral that (at the time the interest attaches to the collateral) the grantor intends to use predominantly for personal, domestic or household purposes; and

(c) the collateral is of a kind that is required or permitted by the regulations to be described by serial number.