Document ID: chunk:federal_register_of_legislation:C2024C00591:section:3
Version: federal_register_of_legislation:C2024C00591
Segment Type: section
Provision Reference: s 3
Character Range: 112595–113819

3                                                                   (a) the PPSA security interest is perfected (whether by registration or otherwise) within the meaning of the Personal Property Securities Act 2009; and                                             the PPSA security interest has priority.
                                                                    (b) the section 31F dealing is registered under section 31F of this Act at or after the priority time for the PPSA security interest under section 55 of the Personal Property Securities Act 2009

 (3) Subsection 73(2) of the Personal Property Securities Act 2009 applies to the section 31F interest.
Note 1: The effect of subsection (3) is that the priority between a section 31F interest and a PPSA security interest in a statutory fishing rights option is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009.
Note 2: Subsection 73(2) of the Personal Property Securities Act 2009 applies to section 31F interests that arise after the commencement of subsection (3) of this section (which commences at the registration commencement time within the meaning of the Personal Property Securities Act 2009).