Personal Property Securities (Corporations and Other Amendments) Act 2011 (35 of 2011)
Schedule 1 Corporations Act 2001
5 After paragraph 441EA(1)(c)
Insert:
(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
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