Document ID: chunk:federal_register_of_legislation:C2024C00719:section:8:p1
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 8 (pt 1/3)
Character Range: 33177–35795

8  Interests to which this Act does not apply
 (1) This Act does not apply to any of the following interests (except as provided by subsection (2) or (3)):
 (a) the interest of a seller who has shipped goods to a buyer under a negotiable bill of lading, or its equivalent, to the order of the seller, or to the order of an agent of the seller, unless the parties have otherwise evidenced an intention to create or provide for a security interest in the goods;
 (b) a lien, charge, or any other interest in personal property, that is created, arises or is provided for under a law of the Commonwealth (other than this Act), a State or a Territory, unless the person who owns the property in which the interest is granted agrees to the interest;
 (c) a lien, charge, or any other interest in personal property, that is created, arises or is provided for by operation of the general law;
 (d) any right of set‑off or right of combination of accounts (within the ordinary meaning of the term "accounts");
 (e) any right or interest held by a person, or any interest provided for by any transaction, under any of the following (as defined in section 5 of the Payment Systems and Netting Act 1998):
 (i) an approved netting arrangement;
 (ii) a close‑out netting contract;
 (iii) a market netting contract;
 (f) an interest provided for by any of the following transactions:
 (i) the creation or transfer of an interest in land;
 (ii) the creation of an interest in a right to payment, or the creation or transfer (including a successive transfer) of a right to payment, in connection with an interest in land, if the writing evidencing the creation or transfer specifically identifies that land;
 (iii) a transfer (including a successive transfer) of an unearned right to payment under a contract to a person who is to perform the transferor's obligations under the contract;
 (iv) a transfer of present or future remuneration (including wages, salary, commission, allowances or bonuses) payable to an individual as an employee or a contractor;
 (v) a transfer of an interest or claim in, or under, a contract of annuity or policy of insurance, except a transfer of a right to an insurance payment or other payment as indemnity or compensation for loss of, or damage to, collateral (or proceeds of collateral);
 (vi) a transfer of an account made solely to facilitate the collection of the account on behalf of the person making the transfer;
 (vii) without limiting subparagraph (vi), a transfer of an account, if the transferee's sole purpose in acquiring the account is to collect it;
 (viii) a transfer of an account or