Document ID: chunk:federal_register_of_legislation:C2012C00169:clause:1_3
Version: federal_register_of_legislation:C2012C00169
Segment Type: clause
Provision Reference: sch 1 cl 3
Character Range: 16231–17430

3                                                                  (a) the PPSA security interest is perfected (whether by registration or otherwise) within the meaning of the Personal Property Securities Act 2009; and                                           the PPSA security interest has priority.
                                                                   (b) the section 46 dealing is registered under section 46 of this Act at or after the priority time for the PPSA security interest under section 55 of the Personal Property Securities Act 2009

 (3) Subsection 73(2) of the Personal Property Securities Act 2009 applies to the section 46 interest.

Note 1: The effect of subsection (3) is that the priority between a section 46 interest and a PPSA security interest in a fishing right is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009.

Note 2: Subsection 73(2) of the Personal Property Securities Act 2009 applies to section 46 interests that arise after the commencement of subsection (3) of this section (which commences at the registration commencement time within the meaning of the Personal Property Securities Act 2009).