Commonwealth Consolidated Acts Commonwealth Consolidated Acts"transitional security interest" means a security interest provided for by a transitional security agreement, if:
(a) in the case of a security interest arising before the registration commencement time--this Act would have applied in relation to the security interest immediately before the registration commencement time, but for section 310; or
(b) in the case of a security interest arising at or after the registration commencement time:
(i) the transitional security agreement as in force immediately before the registration commencement time provides for the granting of the security interest; and
(ii) this Act applies in relation to the security interest.
Note: Section 310 provides that this Act only starts to apply to security interests at the registration commencement time.