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