Document ID: chunk:federal_register_of_legislation:C2024C00719:section:16
Version: federal_register_of_legislation:C2024C00719
Segment Type: section
Provision Reference: s 16
Character Range: 82226–83392

16  Guide to this Chapter

      This Chapter sets out general rules relating to security interests in personal property.
      Part 2.2 contains some general principles relating to these security interests, the agreements that govern them and their enforceability. The Part describes how a security interest is attached to personal property and perfected.
      Part 2.3 deals with the concepts of possession and control of personal property.
      Part 2.4 contains some rules about attachment and perfection of security interests in particular situations.
      Part 2.5 sets out circumstances in which a person takes an interest in personal property free of a security interest in the property.
      Part 2.6 sets out how to work out the priority between competing security interests (and in some cases, other sorts of interests) in personal property. If a specific rule does not deal with the priority between security interests, then the priority is determined in accordance with the default rules in section 55.
      Part 2.7 contains some rules about transferring and assigning interests in collateral.

Part 2.2—Security interests: general principles