Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 51C

Meaning of circulating security interest

                   In this Act:

"circulating security interest" means a security interest that is:

                     (a)  a PPSA security interest, if:

                              (i)  the security interest has attached to a circulating asset within the meaning of the Personal Property Securities Act 2009 ; and

                             (ii)  the grantor (within the meaning of that Act) has title to the asset; or

                     (b)  a floating charge.

Note:          Security interests are either PPSA security interests, or charges, liens or pledges (see section 51A).



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