Document ID: chunk:federal_register_of_legislation:C2012C00169:clause:5_9
Version: federal_register_of_legislation:C2012C00169
Segment Type: clause
Provision Reference: sch 5 cl 9
Character Range: 70787–71353

9  Subsection 5(1) (definition of secured creditor)
Repeal the definition, substitute:

secured creditor, in relation to a debtor, means:
 (a) in the case of a debt secured by a PPSA security interest—the PPSA secured party in relation to the interest, if the interest:
 (i) arose as security for the debt; and
 (ii) is perfected (within the meaning of the Personal Property Securities Act 2009); or
 (b) in the case of any other debt—a person holding a mortgage, charge or lien on property of the debtor as a security for a debt due to him or her from the debtor.