Document ID: chunk:federal_register_of_legislation:C2013C00609:clause:2_323
Version: federal_register_of_legislation:C2013C00609
Segment Type: clause
Provision Reference: sch 2 cl 323
Character Range: 146007–146974

323  Priority rule—priority otherwise undetermined
  If the priority between 2 transitional security interests is not otherwise able to be determined under this Act, they have the priority between themselves that they would have had under the law that applied to such priority immediately before the registration commencement time, and as if this Act had not been enacted.
Note: The priority between the following transitional security interests is not otherwise able to be determined under this Act:
(a) 2 unperfected transitional security interests (because of section 321, the order of attachment between these interests cannot be determined for the purposes of subsection 55(2));
(b) 2 transitional security interests that have been continuously perfected since immediately before the registration commencement time (because of sections 321 and 322, the order of the priority times for these interests cannot be determined for the purposes of subsection 55(4)).