2.2
In forceTaking motor vehicles from prescribed persons
Part 2General rules for security interests
2.2 Taking motor vehicles from prescribed persons
For paragraph 45(3)(b) of the Act, the seller or lessor of a motor vehicle is in a prescribed class if the seller or lessor:
(a)
holds a licence (however described) to deal or trade in that kind of motor vehicle; and
(b)
the licence is issued by a licensing authority in the State or Territory where the sale or lease of the motor vehicle happens.
This Act’s bill:Explanatory statement
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