Document ID: chunk:federal_register_of_legislation:C2012C00169:clause:2_18
Version: federal_register_of_legislation:C2012C00169
Segment Type: clause
Provision Reference: sch 2 cl 18
Character Range: 30315–31396

18  Section 6
Insert:

PPSA security interest (short for Personal Property Securities Act security interest) means:
 (a) a security interest within the meaning of the Personal Property Securities Act 2009 and to which that Act applies (other than a transitional security interest within the meaning of that Act); or
 (b) a transitional security interest within the meaning of that Act, and to which Division 4 of Part 9.4 of that Act applies.

Note 1: The Personal Property Securities Act 2009 applies to certain security interests in personal property. See the following provisions of that Act:
               (a) section 8 (interests to which the Act does not apply);
               (b) section 12 (meaning of security interest);
               (c) Chapter 9 (transitional provisions).

Note 2: For the meaning of transitional security interest, see section 308 of the Personal Property Securities Act 2009. Division 4 of Part 9.4 of that Act applies to transitional security interests in situations including the bankruptcy or insolvency of a secured party, grantor or debtor.