1Short title
This Act may be cited as the Chattel Securities Act 1987 1.
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Bill homepageThis Act may be cited as the Chattel Securities Act 1987 1.
The provisions of this Act shall come into operation on such day or days as is or are respectively fixed by proclamation 1.
In this Act —
approved form means a form approved for that purpose by the Commissioner;
commercial vehicle has the same meaning as in the Credit Act 1984;
Commissioner means the person for the time being designated as the Commissioner under section 3A;
dealer with respect to any goods means a person who carries on a business in which the person deals in goods of that kind;
debtor in relation to a security interest means the person who created the security interest and includes the lessee in relation to a lease of goods and the hirer in relation to a hire‑purchase agreement;
Department means the department of the Public Service principally assisting in the administration of this Act;
farm machinery has the same meaning as in the Credit Act 1984;
goods includes all chattels personal and fixtures other than —
things in action and money; and
ships registered in an official register kept under a law in force in Western Australia relating to title to ships; and
aircraft; and
livestock, unshorn wool and growing crops; and
to the extent of rights expressly conferred on a registered security under the Bills of Sale Act 1899 shorn wool and harvested crops; and
documents of title;
hire‑purchase agreement has the same meaning as in the Hire‑Purchase Act 1959;
hirer has the same meaning as in the Hire‑Purchase Act 1959;
inventory security interest means a security interest —
given by a dealer in or over goods of a kind in which the dealer deals in the course of the dealer’s business; or
reserved in or over goods in the possession or control of a dealer, being goods of a kind in which the dealer deals in the course of the dealer’s business;
lease means a contract for the hiring of goods or for the grant of a licence to use goods and a contract for the hiring or bailment of goods for display purposes but does not include —
a hire‑purchase agreement; or
a contract for the hiring of or for the grant of a licence to use a vehicle as defined in the Road Traffic (Administration) Act 2008 section 4 of which the lessor is, or is applying to be, a licence holder as defined in section 6(1) of that Act; or
a contract for the hiring of or for the grant of a licence to use goods, not being a vehicle as defined in the Road Traffic (Administration) Act 2008 section 4, under which the lessor does not effectively transfer from the lessor to the lessee substantially all the risks and benefits incident to ownership of the goods;
lessee in relation to a lease of goods, means the person to whom the goods are hired under the lease or to whom a licence to use the goods is granted under the lease;
lessor in relation to a lease of goods, means the person who hires the goods to another person under the lease or grants to another person under the lease a licence to use the goods;
owner has the same meaning as in the Hire‑Purchase Act 1959;
purchase with respect to goods, means acquire an interest in the goods by way of purchase, exchange, lease or hire‑purchase;
purchase price with respect to goods purchased by a purchaser, means the consideration paid or payable by the purchaser or, if the purchaser is a lessee under a lease or a hirer under a hire‑purchase agreement, the consideration paid or payable by the lessor or owner;
purchaser means a person who purchases goods but excludes —
secured party not being a lessor, owner or other supplier of the goods under a lease, hire‑ purchase agreement, or other contract for the supply of goods; or
in relation to unregistrable goods, a dealer;
register means of register kept under Part III;
registered means registered under Part III;
registrable goods means goods to which Part III applies;
secured party means the holder of a security interest and includes the lessor in relation to a lease of goods and the owner in relation to a hire‑purchase agreement;
security interest means an interest in or a power over goods (whether arising by or pursuant to an instrument or transaction) which secures payment of a debt or other pecuniary obligation or the performance of any other obligation and includes any interest in or power over goods of a lessor, owner or other supplier of goods, but does not include a possessory lien or pledge;
supply in relation to goods, means dispose of an interest in the goods by way of sale, exchange, lease or hire‑purchase;
trailer means a vehicle that is built to be towed, or is towed, by a motor vehicle, whether by attachment to the motor vehicle directly or to another trailer towed by the motor vehicle, but does not include a motor vehicle that is being towed;
unregistered security interest means a security interest which is not registered under Part III;
unregistrable goods means goods to which Part III does not apply.
This Act applies to a person to whom the rights and obligations of —
a secured party; or
a debtor,
have passed by operation of law in the same manner as this Act applies to the person from whom the rights and obligations have passed by operation of law.
For the purposes of this Act, a hirer or lessee of goods or a buyer of goods under a conditional sale is deemed to have an interest in the goods notwithstanding that title or general property in the goods has not passed to the hirer, lessee or buyer.
For the purposes of this Act —
a security interest attaches at the time at which value is given by the secured party and the debtor has rights in the goods or at such later time as the secured party and the debtor intend; and
an agreement to which a debtor is party which contains a provision to the effect that the debtor takes the goods on lease or hire‑purchase or creates a security interest over the goods shall be deemed to give value to the debtor.
For the purposes of this Act, a person has notice of a security interest in goods —
if the person has actual notice of the security interest; or
if the person has been put upon inquiry as to the existence of the security interest and has deliberately abstained from inquiry or further inquiry when the person might reasonably have expected the inquiry or further inquiry to reveal the security interest.
For the purposes of this Act, a person has notice of a security interest in goods affixed to land if the person would have had, or would have been deemed to have had, notice of that interest if subsection (5) had not been enacted.
If an amount, other than the sum of $20 000 but not exceeding the sum of $50 000, is prescribed by the regulations as the purchase price for the purposes of section 7, a reference in this Act to $20 000 is a reference to the prescribed amount.
If the Governor is satisfied that provisions of a law of another State or of a Territory correspond to provisions of this Act, the Governor may, by Order published in the Government Gazette, declare those provisions to be a corresponding law for the purposes of this Act.
[Section 3 amended: No. 28 of 2001 s. 26; No. 74 of 2003 s. 34; No. 55 of 2004 s. 104; No. 28 of 2006 s. 59; No. 8 of 2012 s. 49.]
The Minister is required, by notice published in the Gazette, to designate a person who is an executive officer of the Department as the Commissioner for the purposes of this Act.
The Commissioner may be referred to by a title specified by the Minister by notice published in the Gazette.
In this section —
executive officer has the meaning given by section 3(1) of the Public Sector Management Act 1994.
[Section 3A inserted: No. 28 of 2006 s. 60.]
Part IIA — Act ceases to have effect except as otherwise provided
[Heading inserted: No. 42 of 2011 s. 34.]
In this Part —
migration time has the meaning given in the Personal Property Securities Act 2009 (Commonwealth) section 306(1);
pre‑PPS transition period means the period —
commencing at the migration time or such earlier time as may be prescribed by the regulations; and
ending at the registration commencement time;
Registrar has the meaning given in the Personal Property Securities Act 2009 (Commonwealth) section 10;
registration commencement time has the meaning given in the Personal Property Securities Act 2009 (Commonwealth) section 306(2);
registration function means any function conferred or imposed on the Commissioner under Part III.
[Section 3B inserted: No. 42 of 2011 s. 34.]
Subject to section 3D, this Act, other than the following provisions, has no effect at and after the registration commencement time —
sections 3A, 22, 23, 24, 25, 26, 29, 30A, 30B, 30C, 30D and 31;
any other provision of this Act (a related provision) that is referred to in provision listed in paragraph (a) (a primary provision) to the extent necessary for the purposes of the continued operation of the primary provision;
any power to make regulations in respect of a matter that is conferred by the primary provision or a related provision.
Section 23 has no effect on and after the day after the end of the period of 7 years beginning at the registration commencement time.
[Section 3C inserted: No. 42 of 2011 s. 34.]
Subject to section 3E, the Commissioner may refuse to exercise a registration function during the pre‑PPS transitional period.
Without limiting subsection (1), the Commissioner may refuse to exercise a registration function during the pre‑PPS transitional period in relation to a matter that was not finally determined or concluded immediately before the commencement of that period.
After the end of the pre‑PPS transitional period the Commissioner is not to exercise a registration function under section 15, 19, 20, 21 or 22.
[Section 3D inserted: No. 42 of 2011 s. 34.]
If the Commissioner —
has given a person a notice under section 22(1) and that notice is in force immediately before the registration commencement time; and
would have cancelled the registration of the person under section 22(2) had he or she been able to exercise that registration function after the end of the pre‑PPS transition period,
the Commissioner may provide the Registrar with a written notice stating the registration of the person would have been so cancelled.
[Section 3E inserted: No. 42 of 2011 s. 34.]
At and after the registration commencement time, the Commissioner may, instead of providing a certificate under section 23(3), respond to an application made in accordance with section 23 by providing the applicant with an extract from the register.
[Section 3F inserted: No. 42 of 2011 s. 34.]
When the Minister is satisfied that there is no reason for this Act to continue, the Minister is to publish a notice in the Gazette stating that the Minister is satisfied as to that matter, and that the Act expires at the end of the day on which the notice is published.
This Act expires as stated in a notice published under subsection (1).
[Section 3G inserted: No. 42 of 2011 s. 34.]
The provisions of this Part (other than section 5) apply (notwithstanding anything to the contrary in any other Act or law) to and in respect of a security interest (whether created within or outside Western Australia) if the goods the subject of the security interest —
are at the date of attachment of the security interest situated in Western Australia; or
are for the time being situated in Western Australia.
Section 5 applies (notwithstanding anything to the contrary in any other Act or law) to and in respect of a security interest (whether created within or outside Western Australia) if the goods the subject of the security interest are at the date of attachment of the security interest situated in Western Australia.
Subject to subsection (4), a reference in this Part to a security interest does not include a reference to a security interest which attaches before the date of commencement of this section.
Sections 7 and 10 have effect in relation to a security interest relating to registrable goods as if in those sections a reference to a security interest were a reference to a security interest which attaches before, upon or after the commencement of this section.
The parties to a security interest may agree that the security interest shall be a legal interest in the goods subject to the security interest and, if the parties so agree, the security interest is a legal interest in the goods.
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