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s. 6
If, after a security interest attaches, goods subject to the security interest are affixed to land and become fixtures, the fixtures, for the purposes of the exercise of the secured party's right to take possession of, remove or sell the goods, shall be deemed not to have become fixtures.
A secured party who removes fixtures to which subsection (1) applies is liable to make good damage done to the land in removing the fixtures.
If, after a lease of goods is made, goods subject to the lease are affixed to land and become fixtures, the fixtures, for the purposes of the exercise of the lessor's right to take possession of the goods, shall be deemed not to have become fixtures.
A lessor who removes fixtures to which subsection (3) applies is liable to make good damage done to the land in removing fixtures.
If, after a hire-purchase agreement is made, goods subject to the agreement are affixed to land and become fixtures, the fixtures, for the purposes of the exercise of the owner's right to take possession of the goods, shall be deemed not to have become fixtures.
An owner who removes fixtures to which subsection (5) applies is liable to make good damage done to the land in removing the fixtures.
Despite this section, a secured party is not entitled to take possession of goods that have become affixed to land and become fixtures if, after the goods have become so affixed, a person other than the secured party has acquired an interest in the land for value in good faith and without notice of the security interest of the secured party.
s. 6
If goods subject to a security interest were affixed to land after an offer to enter into the agreement giving rise to the interest was made, but before the offer was accepted, the goods, for the purposes of this section, shall be deemed to have been affixed to the land after the agreement was made.
S. 7 amended by Nos 106/1993 s. 4, 88/1998 s. 7, repealed by No. 74/2010 s. 4.
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S. 8 amended by Nos 88/1998 s. 8, 44/2001 s. 3(Sch. item 14), repealed by No. 74/2010 s. 4.
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S. 9 repealed by No. 74/2010 s. 4.
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S. 10 amended by Nos 88/1998 s. 9, 44/2001 s. 3(Sch. item 14), repealed by No. 74/2010 s. 4.
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Ss 11, 12 repealed by No. 74/2010 s. 4.
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s. 10
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Pt 3 (Heading and ss 13–28) amended by Nos 52/1988 s. 161(Sch. 6 item 1) (as amended by No. 20/1993 s. 27(1)(a)), 44/1989 s. 41(Sch. 2 item 4.2), 106/1993 ss 5–13, 46/1998 s. 7(Sch. 1), 88/1998 ss 4(b)(c), 10, 11(1)(2), 92/2001 s. 30, 110/2004 s. 3, 81/2006 s. 33, 74/2007 ss 30–38, repealed by No. 74/2010 s. 5.[1]
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Pt 4 (Heading and ss 29–32) amended by Nos 106/1993 s. 14, 88/1998 s. 11(3), 99/2000 s. 18, substituted as Pt 4 (Heading and ss 29–45) by No. 74/2010 s. 6.
Part 4—Savings and Transitional Provisions
S. 29 substituted by No. 74/2010 s. 6.
s. 29
In this Part—
2010 Act means the Personal Property Securities (Statute Law Revision and Implementation) Act 2010;
Commonwealth PPS Act means the Personal Property Securities Act 2009 of the Commonwealth;
continued register means any information kept by the Corporation under section 33;
PPS Registrar means the Registrar of Personal Property Securities appointed under the Commonwealth PPS Act.
S. 30 substituted by No. 74/2010 s. 6.
Despite the commencement of section 3 of the 2010 Act, section 3(1) of this Act, as in force immediately before that commencement, is taken to continue in effect to the extent necessary for this Part.
Despite the commencement of section 3 of the 2010 Act, section 3(2), (4), (5), (6), (7) and (8) of this Act as in force immediately before that commencement are taken to continue in effect to the extent necessary for section 6 of this Act.
S. 31 substituted by No. 74/2010 s. 6.
s. 31
Despite the commencement of section 4 of the 2010 Act, the following provisions of this Act, as in force immediately before that commencement, are taken to continue in effect to the extent necessary for section 6—
section 4; and
section 7(1), (1A), (1B), (3), (4), (5), (6), (7), (8) and (9); and
section 8; and
section 9; and
section 10; and
section 11.
S. 32 substituted by No. 74/2010 s. 6.
Despite the commencement of section 5 of the 2010 Act, section 14 as in force immediately before that commencement is taken to continue in effect to the extent necessary for the operation of section 33.
S. 33 inserted by No. 74/2010 s. 6.
Despite the commencement of section 5 of the 2010 Act, in relation to the register kept under section 15 as in force immediately before that commencement, the Corporation may continue to keep, in whole or in part, the information that was in that register immediately before that commencement.
S. 34 inserted by No. 74/2010 s. 6.
An arrangement with a corresponding Authority entered into under section 15A as in force before the commencement of section 5 of the 2010 Act, being an arrangement as in force immediately before that commencement, is taken to continue in force on and after that commencement in relation to matters occurring before that commencement.
S. 35 inserted by No. 74/2010 s. 6.
s. 35
Despite the commencement of section 5 of the 2010 Act, the Corporation may vary the particulars of a security interest in the continued register and note in the continued register the date on which, and time at which, those particulars are varied if—
there is a change in the particulars of that security interest (other than by reason that the security interest is discharged or extinguished); and
the secured party makes an application under section 21 for the variation of those particulars before that commencement; and
those particulars are not varied in accordance with the application before that commencement.
S. 36 inserted by No. 74/2010 s. 6.
Despite the commencement of section 5 of the 2010 Act, if a prescribed change occurs in the particulars of a security interest in an entry to the register before that commencement and the particulars are not varied under section 22 before that commencement, the Corporation may—
vary those particulars in the continued register to reflect the prescribed change; and
note in the continued register the date on which, and the time at which, the particulars are varied.
S. 37 inserted by No. 74/2010 s. 6.
s. 37
Despite the commencement of section 5 of the 2010 Act, if the Corporation considers that there is an inaccuracy in the information in the continued register relating to a security interest in respect of goods, the Corporation may by notice in writing require the holder of the security interest in those goods to advise the Corporation in writing within the period specified in the notice as to whether the information in the continued register should be varied as specified in the notice.
If the holder of the security interest fails to advise or inadequately advises the Corporation in writing within the period specified in the notice, the Corporation may upon the expiry of that period vary the information in the continued register as specified in the notice.
S. 38 inserted by No. 74/2010 s. 6.
Despite the commencement of section 5 of the 2010 Act, the Corporation may, if—
a show cause notice under section 23(1) was given to a person before that commencement; and
the period specified in the notice within which the person must show cause ends after that commencement; and
the person fails to show cause as required by the notice within the period specified in the notice—
remove the particulars of the security interest to which the notice relates from the continued register.
S. 39 inserted by No. 74/2010 s. 6.
s. 39
Despite the commencement of section 5 of the 2010 Act, a person may apply to the Corporation for a certificate containing particulars of information contained in the continued register in respect of specified goods or, if there is no information in the continued register in respect of those goods, a certificate containing a statement to that effect.
In addition to the information referred to in subsection (1), the Corporation may provide with a certificate any other information relating to—
goods whether or not there is any information in the continued register (including information about security interests in respect of those goods); or
goods which a member of the police force has advised the Corporation have been reported to a member of the police force as being stolen or otherwise illegally obtained; or
goods which are specified in a notice served under section 84W(1) or 84Y(1) of the Road Safety Act 1986—
being information provided in writing to the Corporation for the purposes of this subsection or for the purposes of section 24(2) as in force immediately before the commencement of section 5 of the 2010 Act.
Despite the commencement of section 5 of the 2010 Act, neither the Corporation nor any other person incurs any liability in respect of a certificate issued under subsection (1) or information provided under subsection (2) if—
the certificate or information contains or is accompanied by a disclaimer that the certificate or information is provided without liability and without any responsibility for the accuracy of the certificate or information; and
the certificate or information is provided in good faith.
The applicant for a certificate under subsection (1) must pay the prescribed fee, if any.
S. 40 inserted by No. 74/2010 s. 6.