Chattel Securities Act 1987

If a purchaser purchases goods from a secured party, all security interests which rank subsequently to the security interest of the secured party are extinguished without prejudice to the rights of the secured parties in respect of the interests to, or to call for, an accounting of such part of the consideration for the purchase as exceeds the entitlement of the first‑mentioned secured party.

Nothing in subsection (1) prejudices the right of a debtor or other secured party to damages if a secured party wrongly exercises a power to sell goods subject to a security interest held by the person.