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

Schedule 2   Personal Property Securities Act 2009

Part 1   Specific amendments

66   After section 84

Insert:

84A Attachment of security interests to crops while they are growing and to the products of livestock

Security interest in crops while they are growing

(1) To avoid doubt, a security interest may attach to crops while they are growing.

Security interest in the products of livestock

(2) To avoid doubt, a security interest may attach to the products of livestock before they become proceeds (for example, the wool on a sheep's back before the sheep is shorn).

Note 1: Livestock includes the products of livestock before they become proceeds (see section 10).

Note 2: For what are the proceeds of crops and livestock, see subsections 31(4), (5) and (6).