Personal Property Securities (Commonwealth Powers) Act 2009

This clause applies in relation to a reference in an Act or statutory rule to a charge, a fixed charge, or a floating charge, over property, but only to the extent that:

the charge referred to has attached to personal property, and

title to the personal property to which the charge has attached is in the grantor, and

the charge is a security interest to which the PPS Act applies.

However, this clause does not apply to:

a reference to a charge, a fixed charge, or a floating charge, if the charge referred to is a perfected security interest that is provided for by a transfer of an account or chattel paper, or

any other reference (or any reference belonging to a class) prescribed by the regulations.

On and from the registration commencement time:

a reference to a charge over property is taken to be a reference to a security interest that has attached to:

a circulating asset, or

personal property that is not a circulating asset, and

a reference to a fixed charge over property is taken to be a reference to a security interest that has attached to personal property that is not a circulating asset, and

a reference to a floating charge over property is taken to be a reference to a security interest that has attached to a circulating asset.

Any word or expression used in this clause that is defined in the PPS Act has the same meaning as in that Act.