Document ID: chunk:federal_register_of_legislation:C2012C00169:clause:5_3
Version: federal_register_of_legislation:C2012C00169
Segment Type: clause
Provision Reference: sch 5 cl 3
Character Range: 68156–68853

3  After subsection 60(3)
Insert:

 (3A) Subsection 73(2) of the Personal Property Securities Act 2009 applies to a statutory lien.

Note 1: The effect of this subsection is that the priority between a statutory lien on an aircraft and a security interest in the aircraft to which the Personal Property Securities Act 2009 applies is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009.

Note 2: Subsection 73(2) of the Personal Property Securities Act 2009 applies to statutory liens that arise after the commencement of subsection (3A) (which is the registration commencement time within the meaning of the Personal Property Securities Act 2009).