Document ID: chunk:federal_register_of_legislation:C2013C00609:clause:1_588fl:p3
Version: federal_register_of_legislation:C2013C00609
Segment Type: clause
Provision Reference: sch 1 cl 588FL (pt 3/3)
Character Range: 73177–74571

from a person on behalf of a secured party, or from a receiver in the exercise of powers:
 (i) conferred by the security agreement providing for the security interest; or
 (ii) implied by the general law; and
 (b) at the time the person acquires the property, the person has no actual or constructive knowledge of the following (as the case requires):
 (i) the filing of an application for an order to wind up the company;
 (ii) the passing of a resolution to wind up the company;
 (iii) the appointment of an administrator of the company under section 436A, 436B or 436C;
 (iv) the execution of a deed of company arrangement by the company under Part 5.3A.
Note: For what is actual or constructive knowledge, see sections 297 and 298 of the Personal Property Securities Act 2009.
 (6) In a proceeding in Australia under this Act, the onus of proving the fact that a person acquires personal property without actual or constructive knowledge as mentioned in paragraph (5)(b) lies with the person asserting that fact.
 (7) In this section:
critical time, in relation to a company, means:
 (a) if the company is being wound up—when, on a day, the event occurs by virtue of which the winding up is taken to have begun or commenced on that day under section 513A or 513B; or
 (b) in any other case—when, on a day, the event occurs by virtue of which the day is the section 513C day for the company.