Document ID: chunk:federal_register_of_legislation:C2024C00719:section:299
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 299
Character Range: 455455–456624

299  Actual or constructive knowledge in relation to certain property transfers
 (1) This section applies if:
 (a) a person (the transferee) acquires personal property from another person (the transferor); and
 (b) any of the following applies:
 (i) the transferee is a member of the same household as the transferor;
 (ii) the transferee is an associated entity (within the meaning of the Corporations Act 2001) of the transferor, or the transferor is such an associated entity of the transferee;
 (iii) the transferee is a director or officer (within the meaning of the Corporations Act 2001) of the transferor, or the transferor is such a director or officer of the transferee.
 (2) For the purposes of this Act, the following is to be presumed, unless the contrary is shown beyond reasonable doubt:
 (a) the transferee had actual or constructive knowledge that the acquisition constituted a breach of the security agreement that provides for a security interest in the personal property;
 (b) the transferee had actual or constructive knowledge of a security interest in the personal property;
 (c) value was not given by the transferee for the interest acquired.