Personal Property Securities (Consequential Amendments) Act 2009 (131 of 2009)
Schedule 5 Other legislation
Bankruptcy Act 1966
9 Subsection 5(1) (definition of secured creditor )
Repeal the definition, substitute:
secured creditor , in relation to a debtor, means:
(a) in the case of a debt secured by a PPSA security interest - the PPSA secured party in relation to the interest, if the interest:
(i) arose as security for the debt; and
(ii) is perfected (within the meaning of the Personal Property Securities Act 2009); or
(b) in the case of any other debt - a person holding a mortgage, charge or lien on property of the debtor as a security for a debt due to him or her from the debtor.
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