Document ID: chunk:federal_register_of_legislation:C2024C00719:section:245
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 245
Character Range: 390388–392696

245  Meaning of referred PPS matters
 (1) In this Act, referred PPS matters, in relation to personal property covered by paragraph 244(4)(a), (b) or (c), means:
 (a) the matter of security interests in the personal property; and
 (b) without limiting the generality of paragraph (a), each of the following matters:
 (i) the recording of security interests, or information with respect to security interests, in the personal property in a register;
 (ii) the recording in such a register of any other information with respect to the personal property (whether or not there are any security interests in the personal property);
 (iii) the enforcement of security interests in the personal property (including priorities to be given as between security interests, and as between security interests and other interests, in the personal property).
 (2) However, referred PPS matters does not include the matter of making provision with respect to personal property or interests in personal property in a manner that excludes or limits the operation of a law of a State to the extent that the law makes provision with respect to:
 (a) the creation, holding, transfer, assignment, disposal or forfeiture of a right, entitlement or authority that is granted by or under a law of the State; or
 (b) limitations, restrictions or prohibitions concerning the kinds of interests that may be created or held in, or the kinds of persons or bodies that may create or hold interests in, a right, entitlement or authority that is granted by or under a law of the State; or
 (c) without limiting the generality of paragraph (a) or (b)—any of the following matters:
 (i) the forfeiture of property or interests in property (or the disposal of forfeited property or interests) in connection with the enforcement of the general law or any law of the State;
 (ii) the transfer, by operation of that law of the State, of property or interests in property from any specified person or body to any other specified person or body (whether or not for valuable consideration or a fee or other reward).
 (3) In this section:
forfeiture means confiscation, seizure, extinguishment, cancellation, suspension or any other forfeiture.
register means any system for recording interests or information (whether in written or electronic form).