Commonwealth Consolidated Acts

PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 299

  (1)   This section applies if:

  (a)   a person (the transferee ) acquires personal property from another person (the transferor ); and

  (b)   any of the following applies:

  (i)   the transferee is a member of the same household as the transferor;

  (ii)   the transferee is an associated entity (within the meaning of the Corporations Act 2001 ) of the transferor, or the transferor is such an associated entity of the transferee;

  (iii)   the transferee is a director or officer (within the meaning of the Corporations Act 2001 ) of the transferor, or the transferor is such a director or officer of the transferee.

  (2)   For the purposes of this Act, the following is to be presumed, unless the contrary is shown beyond reasonable doubt:

  (a)   the transferee had actual or constructive knowledge that the acquisition constituted a breach of the security agreement that provides for a security interest in the personal property;

  (b)   the transferee had actual or constructive knowledge of a security interest in the personal property;

  (c)   value was not given by the transferee for the interest acquired.