Document ID: chunk:federal_register_of_legislation:C2013C00609:clause:1_51c
Version: federal_register_of_legislation:C2013C00609
Segment Type: clause
Provision Reference: sch 1 cl 51C
Character Range: 19516–20021

51C  Meaning of circulating security interest
  In this Act:
circulating security interest means a security interest that is:
 (a) a PPSA security interest, if:
 (i) the security interest has attached to a circulating asset within the meaning of the Personal Property Securities Act 2009; and
 (ii) the grantor (within the meaning of that Act) has title to the asset; or
 (b) a floating charge.
Note: Security interests are either PPSA security interests, or charges, liens or pledges (see section 51A).