Document ID: chunk:federal_register_of_legislation:C2024C00719:section:10:p4
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 10 (pt 4/11)
Character Range: 51792–54654

(a) a person who owes payment or performance of an obligation that is secured by a security interest in personal property (whether or not the person is also the grantor of the security interest); or
 (b) a transferee of, or successor to, an obligation mentioned in paragraph (a).
defect, in relation to a registration, includes an irregularity, omission or error in the registration.
Deputy Registrar means a Deputy Registrar of Personal Property Securities.
Note: See Part 5.9 for the office of Deputy Registrar.
description of personal property (including collateral and proceeds) means:
 (a) in the case of a particular item of personal property—a description that identifies the item, or that identifies a class to which the item belongs; or
 (b) in the case of a class of personal property—a description that identifies the class, including a description that identifies the class by identifying a larger class of personal property that wholly includes the class.
                Example 1: A description that identifies collateral as "sheep" (a type of livestock) is sufficient to identify collateral that is sheep wool (a product of livestock, which is a class of collateral wholly included in the larger class of "sheep").
                Example 2: A description that identifies collateral as "fruit" is sufficient to identify collateral that is apples.
document of title means a writing issued by or addressed to a bailee:
 (a) that covers goods in the bailee's possession that are identified or are fungible portions of an identified mass; and
 (b) in which it is stated that the goods identified in it will be delivered:
 (i) to a named person, or to the transferee of that person; or
 (ii) to the bearer; or
 (iii) to the order of a named person.
effective: a registration is effective with respect to particular collateral if it is effective with respect to that collateral under Part 5.4.
enterprise has the meaning given by section 9‑20 of the A New Tax System (Goods and Services Tax) Act 1999.
execution creditor means a creditor who has recovered judgment and issued execution against a grantor.
expenses, in relation to the enforcement of a security interest in collateral, includes advances, costs and taxes for obtaining possession of, protecting (including insuring), maintaining, preserving or repairing the collateral.
Example: For collateral that is intellectual property, expenses include the costs of legal proceedings against infringers of the intellectual property.
Note: Reasonable expenses in relation to the enforcement of a security interest are taken to be secured by a security interest unless the parties agree otherwise (see subsection 18(5)).
express amendment, of this Act, has the meaning given by section 244.
Federal Court means the Federal Court of Australia.
financial product:
 (a) for the purposes of the definition