Commonwealth Consolidated Acts

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PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 6

Connection with Australia

  (1)   This Act applies to a security interest in goods or financial property if:

  (a)   the location of the goods or property is in Australia; or

  (b)   the grantor is an Australian entity.

Note:   For when personal property is located in a jurisdiction, see section   235.

  (1A)   This Act applies to a security interest in an intermediated security if:

  (a)   the intermediary in relation to the intermediated security is located in Australia; or

  (b)   the grantor is an Australian entity.

Note:   For when a person is located in a jurisdiction, see section   235.

  (2)   This Act applies to a security interest in intangible property if:

  (a)   the grantor is an Australian entity; or

  (b)   the intangible property is an account that is payable in Australia; or

  (c)   the security interest is an interest of a transferor under a transfer of intangible property that consists of an account or chattel paper, and:

  (i)   the transferor is an Australian entity; or

  (ii)   the account or chattel paper is payable in Australia; or

  (d)   the intangible property is an ADI account; or

  (e)   the intangible property is created, arises or is provided for by either or both of the following:

  (i)   a law of the Commonwealth, a State or a Territory;

  (ii)   the general law (to the extent to which it applies in Australia, a State or a Territory).

Note:   For the application of Australian and foreign law in relation to a security interest, see Part   7.2.


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