Document ID: chunk:federal_register_of_legislation:C2024C00719:section:10:p9
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 10 (pt 9/11)
Character Range: 64276–66992

promissory note (within the meaning of section 89 of the Bills of Exchange Act 1909); or
 (d) any other writing that evidences a right to payment of currency, if:
 (i) the writing is of a kind that, in the ordinary course of business, is transferred by delivery with any necessary endorsement or assignment; or
 (ii) the writing satisfies the requirements for negotiability under the law governing negotiable instruments (including, but not limited to, instruments that are negotiable instruments within the meaning of this definition); or
 (e) a letter of credit that states that it must be presented on claiming payment;
but does not include any of the following:
 (f) the creation or transfer (including a successive transfer) of a right to payment in connection with interests in land, if the writing evidencing the creation or transfer does not specifically identify that land;
 (g) a document of title;
 (h) an intermediated security.
new value means value other than value provided to reduce or discharge an earlier debt or liability owed to the person providing the value.
non‑referring State means a State that is not a referring State.
Note: For the meaning of referring State, see section 244.
notice of objection has the meaning given by section 137.
penalty unit has the meaning given by section 4AA of the Crimes Act 1914.
perfected has the meaning given by section 21.
personal property means property (including a licence) other than:
 (a) land; or
 (b) a right, entitlement or authority that is:
 (i) granted by or under a law of the Commonwealth, a State or a Territory; and
 (ii) declared by that law not to be personal property for the purposes of this Act.
Note: This Act does not apply to certain interests even if they are interests in personal property (see section 8).
possession has a meaning affected by section 24.
PPS lease (short for Personal Property Securities lease) has the meaning given by section 13.
PPS matter (short for Personal Property Securities matter) has the meaning given by section 206.
predominantly: personal property is intended to be used predominantly for personal, domestic or household purposes if:
 (a) the personal property:
 (i) is intended to be used only for those purposes; or
 (ii) is intended to be used for other purposes as well, but is intended to be mostly used for personal, domestic or household purposes; and
 (b) the personal property is not acquired as an investment.
present liability means a liability:
 (a) that has arisen; and
 (b) whose extent or amount is fixed or capable of being ascertained;
whether or not the liability is immediately due to be met.
proceeds has the meaning given by section 31.
provides: a security agreement provides