Document ID: chunk:federal_register_of_legislation:C2024C00719:section:139
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 139
Character Range: 249443–250122

139  Guide to this Part

      This Part contains rules about steps to be taken after a security interest in collateral has been enforced.
      These rules deal with the following:

                (a) the order of distribution of personal property or its proceeds;
                (b) the transfer of title to collateral;
                (c) redemption of collateral, or the reinstatement of security agreements, before disposal;
                (d) when certain enforcement notices are not required.
      A person exercising or discharging rights, duties and obligations arising under this Part must act honestly and in a commercially reasonable manner (see section 111).