Document ID: chunk:federal_register_of_legislation:F2022C00632:reg:3
Version: federal_register_of_legislation:F2022C00632
Segment Type: reg
Provision Reference: reg 3
Character Range: 34830–36228

3     A compulsory acquisition of securities under Part 6A.1 or 6A.2 of the Corporations Act 2001

Part 8—Miscellaneous

Note: This Part heading is reserved for future use.

Part 9—Transitional provisions

9.1  Transitional meaning of watercraft
  The definition of watercraft in regulation 1.6 includes an outboard motor that has a manufacturer's number if:
 (a) the outboard motor is subject to a transitional security interest; and
 (b) before the registration commencement time, the outboard motor was registered on a transitional register, under legislation that conferred priority on security interests that are registered.

9.2  Temporary perfection rule—exception
 (1) For subsection 322(3) of the Act, a transitional security interest is prescribed if, before the registration commencement time it was:
 (a) registrable on a transitional register, under legislation that conferred priority on security interests that are registered; and
 (b) not registered.
 (2) Subregulation (1) does not apply to a transitional security interest if:
 (a) it is a charge that, under section 262 of the Corporations Act 2001, is required to be registered; and
 (b) for subsection 265(9) of Corporations Act 2001, it is taken not to have been registered.

9.3  Sunset of Part 9
  This Part ceases to have effect after the end of the month that is 24 months after the registration commencement time.