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

Schedule 2   Personal Property Securities Act 2009

Part 1   Specific amendments

95   Subsections 244(1) and (2)

Repeal the subsections, substitute:

General meaning

(1) A State is a referring State if, for the purposes of paragraph 51(xxxvii) of the Constitution, the Parliament of the State has, before the registration commencement time:

(a) referred the matters covered by subsections (3) and (4) to the Commonwealth Parliament; or

(b) both:

(i) adopted the relevant version of this Act; and

(ii) referred the matters covered by subsection (4) to the Commonwealth Parliament.

Note 1: For registration commencement time , see section 306.

Note 2: Subsections (5), (6) and (7) deal with when a State stops being a referring State .

(2) A State is a referring State even if the State's referral law provides that:

(a) the reference to the Commonwealth of a matter covered by subsection (3) or (4) is to terminate in particular circumstances; or

(b) the adoption of the relevant version of this Act is to terminate in particular circumstances; or

(c) any or all of the State's amendment references have not commenced in relation to a particular kind (or kinds) of personal property (or so commence at or after the registration commencement time); or

(d) the reference to the Commonwealth Parliament of a matter covered by subsection (3) or (4) has effect only:

(i) if, and to the extent that, the matter is not otherwise included in the legislative powers of the Commonwealth Parliament (otherwise than by a reference under paragraph 51(xxxvii) of the Constitution); or

(ii) if and to the extent that the matter is included in the legislative powers of the Parliament of the State.