Document ID: chunk:federal_register_of_legislation:F2022C00632:front:0:p7
Version: federal_register_of_legislation:F2022C00632
Segment Type: other
Provision Reference: 
Character Range: 16082–18813

interest.

1.9  Meaning of PPS lease
 (1) For paragraph 13(2)(d) of the Act, a lease or bailment is not a PPS lease if it is part of a pooling arrangement.
 (2) In subregulation (1):
pooling arrangement means an arrangement that includes one or more hire, lease or bailment arrangements, under which:
 (a) goods are pooled for the collective use, from time to time, of the parties to one or more hire, lease or bailment arrangements; and
 (b) none of the hire, lease or bailment arrangements, in substance, secures payment or performance of an obligation; and
 (c) possession of the goods can be passed between multiple users, without the prior approval of the owner, whether or not the goods are passed subject to conditions; and
 (d) like goods that are, by nature or usage of trade, the equivalent of the goods hired, leased or bailed under one of the hire, lease or bailment arrangements can be returned, in place of the goods originally hired, leased or bailed.

1.10  Meaning of investment instrument
  For paragraph (i) of the definition of investment instrument in section 10 of the Act, the following financial products are prescribed:
 (a) an Australian carbon credit unit, within the meaning of section 5 of the Carbon Credits (Carbon Farming Initiative) Act 2011;
 (b) a carbon unit, within the meaning of section 5 of the Clean Energy Act 2011;
 (c) each eligible international emissions unit mentioned in paragraphs (a), (b), (c) and (d) of the definition of eligible international emissions unit in section 4 of the Australian National Registry of Emissions Units Act 2011.

Part 2—General rules for security interests

2.1  Taking motor vehicles free of security interests

Incorrect or missing serial number
 (1) For subsection 45(1) of the Act, a motor vehicle described in regulation 1.7 is prescribed.
 (2) However, in the period that ends at the end of the month that is 24 months after the registration commencement time, a motor vehicle described in regulation 1.7 is taken not to be prescribed for subsection 45(1) of the Act if:
 (a) it is subject to a transitional security interest; and
 (b) before the registration commencement time, it was not possible to register the transitional security interest by serial number on a transitional register of a State or Territory that registered security interests in motor vehicles.

Taking from prescribed persons
 (3) For subsection 45(3) of the Act, a motor vehicle described in regulation 1.7 is prescribed.

2.2  Taking motor vehicles from prescribed persons
  For paragraph 45(3)(b) of the Act, the seller or lessor of a motor vehicle is in a prescribed class if the seller or lessor:
 (a) holds a licence (however described) to deal or trade in that kind