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

Schedule 2  

31   Paragraphs 151(2)(a) and (b)

Repeal the paragraphs, substitute:

(a) the person described in the statement as the secured party has never, since the statement was registered, been a secured party in relation to the collateral (other than by virtue of the registration itself); and

(b) there are no reasonable grounds (or there are no longer any reasonable grounds) for the belief mentioned in subsection (1).

Note: The heading to section 151 is altered by omitting “ belief that collateral secures obligation ” and substituting “ belief about security interest ”.

Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).