Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 323

Priority rule--priority otherwise undetermined

    If the priority between 2 transitional security interests is not otherwise able to be determined under this Act, they have the priority between themselves that they would have had under the law that applied to such priority immediately before the registration commencement time, and as if this Act had not been enacted.

Note:   The priority between the following transitional security interests is not otherwise able to be determined under this Act:

(a)   2 unperfected transitional security interests (because of section   321, the order of attachment between these interests cannot be determined for the purposes of subsection   55(2));

(b)   2 transitional security interests that have been continuously perfected since immediately before the registration commencement time (because of sections   321 and 322, the order of the priority times for these interests cannot be determined for the purposes of subsection   55(4)).


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback