Commonwealth Consolidated Acts Commonwealth Consolidated ActsThis Part is about the constitutional operation of this Act in the States and Territories, and outside Australia, as follows:
(a) this Act operates in any State that has given the Commonwealth power to legislate accordingly for the purposes of paragraph 51(xxxvii) of the Constitution;
(b) this Act operates in any State to the extent that other constitutional powers permit its operation;
(c) this Act operates in a Territory, and outside Australia, to the extent that it can under the Constitution.
A security interest in collateral in relation to which this Act operates under
this Part has priority over a security interest in the same collateral
in relation to which this Act does not operate under this Part.