Personal Property Securities (Corporations and Other Amendments) Act 2011 (35 of 2011)

Schedule 1   Corporations Act 2001

5   After paragraph 441EA(1)(c)


(ca) either:

(i) there is no other security interest in the property; or

(ii) there are one or more other security interests in the property, but none of the debts secured by those other security interests has a priority that is equal to or higher than the priority of the debt secured by the possessory security interest; and