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CORPORATIONS ACT 2001 - SECT 261
Interpretation and application
(1) In this Chapter, unless the contrary intention appears:
"document of title" means a document:
- used in the ordinary course of business as proof of possession or control,
or of the right to possession or control, of property other than land; or
- authorising or purporting to authorise, whether by endorsement or
delivery, the possessor of the document to transfer or receive property other
- a bill of lading; and
- a warehousekeeper's certificate; and
- a wharfinger's certificate; and
- a warrant or order for the delivery of goods; and
- a document that is, or evidences title to, a marketable security.
"present liability", in relation to a charge, means a liability that has
arisen, being a liability the extent or amount of which is fixed or capable of
being ascertained, whether or not the liability is immediately due to be met.
- of a companymeans property that is held by the company (whether or
not as trustee) wherever the property is situated (whether in Australia or
- of a foreign companymeans property that is held by the company
(whether or not as trustee) and that is in this jurisdiction or in an external
- of a registrable Australian bodymeans property that is held by the
body (whether or not as trustee) and that is in this jurisdiction and outside
the body's place of origin.
"prospective liability", in relation to a charge, means any liability that may
arise in the future, or any other liability, but does not include a
"Register" means the Australian Register of Company Charges referred to in
"registrable charge" means a charge in relation to which, by virtue of
section 262, the provisions of this Chapter mentioned in subsection
(2) A charge referred to in subsection 263(3) or section 264 is, until
the charge is registered, treated for the purposes of this Chapter as if it
were not a registrable charge but, when the charge is so registered, it has
the priority accorded to a registered charge as from the time of registration.
(3) The registration of a charge referred to in subsection 263(3) or
section 264 does not prejudice any priority that would have been accorded
to the charge under any other law (whether an Australian law or not) if the
charge had not been registered.
(4) For the purposes of this Chapter, a notice or other document is taken to
be lodged when it is received at an office of ASIC in this jurisdiction by an
officer authorised to receive it.
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