Document ID: chunk:federal_register_of_legislation:C2013C00609:clause:2_86
Version: federal_register_of_legislation:C2013C00609
Segment Type: clause
Provision Reference: sch 2 cl 86
Character Range: 124667–125950

86  Subsection 239(3)
Repeal the subsection (not including the heading), substitute:
 (3) In relation to a security interest in intellectual property or an intellectual property licence:
 (a) subject to paragraph (c), the validity of the security interest is governed by the law of the jurisdiction (other than the law relating to conflict of laws) in which the grantor is located when the security interest attaches, under that law, to the property or licence; and
 (b) subject to paragraph (c), at a particular time, the perfection, and the effect of perfection or non‑perfection, of the security interest is governed by the law of the jurisdiction (other than the law relating to conflict of laws) in which the grantor is located at that time; and
 (c) the following matters are governed by the law of the jurisdiction (other than the law relating to conflict of laws) by or under which the property or licence is granted, if that law provides for the public registration or recording of the security interest, or of a notice relating to the security interest:
 (i) whether a successor in title to the grantor's interest in the property or licence takes it free of a security interest;
 (ii) the validity of the security interest against a transferee of the property or licence.