Document ID: chunk:federal_register_of_legislation:F2022C00632:reg:4:p1
Version: federal_register_of_legislation:F2022C00632
Segment Type: reg
Provision Reference: reg 4 (pt 1/5)
Character Range: 22890–26824

4     Section 140           A secured party distributes funds received in the following order:                                                                                                                                                              Section 105        A secured party deducts the following amounts from any money received from a sale:
                            (a) interests with a higher priority;                                                                                                                                                                                                              (a) the secured amount that is outstanding;
                            (b) enforcement costs;                                                                                                                                                                                                                             (b) the amount payable to discharge any prior mortgage;
                            (c) higher ranking security interests;                                                                                                                                                                                                             (c) the amounts payable to discharge any subsequent mortgages of which the secured party has notice;
                            (d) the secured interests of the enforcing party;                                                                                                                                                                                                  (d) the secured party's reasonable enforcement expenses
                            (e) lower priority security interests;
                            (f) the grantor

Part 5—Personal Property Securities Register

5.1  Access to register
  For paragraph 147(4)(b) of the Act, the Registrar may suspend the operation of the register for up to 4 hours, after giving notice of the suspension in accordance with subsection 147(6) of the Act at least 7 days before the suspension.

5.2  Notification of suspension of access to register
  For paragraph 147(6)(a) of the Act, the Registrar must publish the notice on a website maintained by the Registrar on the Internet.

5.3  What the register contains
 (1) For paragraph 148(c) of the Act, the following types of personal property are prescribed:
 (a) a motor vehicle that has been impounded, immobilised or forfeited, or is subject to an impoundment, immobilisation or forfeiture application, under a law that provides for impoundment, immobilisation or forfeiture of a motor vehicle because it is being used, or has been used, in the commission of certain offences;
 (b) personal property that is subject to a notice or an order, or is confiscated or forfeited, under a provision of a proceeds of crime law;
 (c) personal property that is subject to an order of a court or tribunal (however described) that:
 (i) prevents or restricts a person dealing with the property; or
 (ii) enforces another court order (however described); or
 (iii) orders the sale or other disposal of all or part of the property;
 (d) personal property that:
 (i) is not mentioned in paragraph (a), (b) or (c); and
 (ii) immediately before the registration commencement time, could have been registered on a transitional register maintained under a law of the Commonwealth, a State or a Territory.
Note: For subparagraph (d)(ii), transitional register has the meaning given by section 330 of the Act.
 (2) In this regulation:
court order does not include an order made under a proceeds of crime law.
proceeds of crime law means:
 (a) the Mutual Assistance in Criminal Matters Act 1987; or
 (b) the Proceeds of Crime Act 1987; or
 (c) the Proceeds of Crime Act 2002; or
 (d) a law of a State or Territory that is a corresponding law within the meaning given by section