Document ID: chunk:federal_register_of_legislation:C2024C00719:section:308
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 308
Character Range: 463264–464160

308  Meaning of transitional security interest
  In this Act:
transitional security interest means a security interest provided for by a transitional security agreement, if:
 (a) in the case of a security interest arising before the registration commencement time—this Act would have applied in relation to the security interest immediately before the registration commencement time, but for section 310; or
 (b) in the case of a security interest arising at or after the registration commencement time:
 (i) the transitional security agreement as in force immediately before the registration commencement time provides for the granting of the security interest; and
 (ii) this Act applies in relation to the security interest.
Note: Section 310 provides that this Act only starts to apply to security interests at the registration commencement time.

Part 9.3—Initial application of this Act