Document ID: chunk:federal_register_of_legislation:C2013C00609:clause:2_48
Version: federal_register_of_legislation:C2013C00609
Segment Type: clause
Provision Reference: sch 2 cl 48
Character Range: 109782–110334

48  Section 54 (before the paragraph relating to Division 3)
Insert:

      For example, a security interest held by an ADI in an ADI account with the ADI has priority over any other security interest in the ADI account. An ADI has control over an ADI account held with the ADI (see section 25). Only the ADI with which an ADI account is held may perfect a security interest in the ADI account by control (see section 21). A security interest perfected by control has priority over any other security interest in the same collateral (see section 57).