Victorian Current Acts

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INSTRUMENTS ACT 1958 - SECT 142

Effect of repeal on existing liens

    (1)     Despite the commencement of section 15 of the 2010 Act, the provisions of Part VII of the Instruments Act 1958 (other than the part of section 62 beginning with the words "After such agreement as aforesaid" and ending with the words "as against the original proprietor thereof who granted such lien."), as in force immediately before that commencement, are taken to continue to apply to a current crop lien until, in accordance with section 66—

        (a)     the lien is removed from the records of the Registrar-General; or

        (b)     satisfaction of the lien is entered on the records of the Registrar-General—

whichever occurs first.

Note

Chapter 9 of the Personal Property Securities Act 2009 of the Commonwealth provides for transitional arrangements for liens on crops relating to the priority of these interests.

    (2)     An agreement executed before the commencement time that has not been (but could have been) registered in the office of the Registrar-General in accordance with section 61 immediately before the commencement time is taken to have effect as an agreement to which that section applies immediately before that time.

Division 3—Liens on wool and mortgages of stock

S. 143 inserted by No. 74/2010 s. 16.



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