Document ID: chunk:federal_register_of_legislation:F2025C00075:reg:3
Version: federal_register_of_legislation:F2025C00075
Segment Type: reg
Provision Reference: reg 3
Character Range: 39644–40594

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 permanent or temporary transfer is registered under section 26 at or after the priority time for the PPSA security interest under section 55 of the Personal Property Securities Act 2009

 (2) Subsection 73(2) of the Personal Property Securities Act 2009 applies to the quota unit interest.
Note: The effect of this subsection is that the priority between a quota unit interest and a PPSA security interest is to be determined in accordance with this instrument rather than the Personal Property Securities Act 2009.

Division 3—Suspension and cancellation of quota units