Document ID: chunk:federal_register_of_legislation:C2024C00719:section:118:p2
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 118 (pt 2/2)
Character Range: 215374–217136

the decision of the secured party (the first secured party) under paragraph 117(2)(b) does not limit the rights of any other secured party (the other secured party) who has a security interest in the personal property (whether granted before or after the first secured party's security interest); and
 (b) the other secured party has standing in proceedings taken by (or on behalf of) the first secured party in enforcing the first secured party's security interest under this section; and
 (c) the other secured party may apply to a court for the conduct of a judicially supervised sale for the purposes of enforcing the first secured party's security interest under this section; and
 (d) the court may grant the application.
Note: For which courts have jurisdiction, and for transfers between courts, see Part 6.2.

Exercise of powers etc. under applied law
 (8) The Minister may make an agreement with the appropriate Minister of a State or Territory in relation to the exercise or performance of a power, duty or function (not being a power, duty or function involving the exercise of judicial power) by an authority of the State or Territory for the purposes of the law that applies by virtue of subsection (4).
 (9) If such an agreement is in force, the power, duty or function may or must be exercised or performed accordingly.
 (10) The Minister may make an agreement with the appropriate Minister of a State or Territory for the variation or revocation of an agreement made under this section in relation to the State.
 (11) An agreement made under subsection (8) or (10) is not a legislative instrument.

This section does not affect land laws
 (12) To avoid doubt, nothing in this section is intended to modify a land law, or to affect its operation.