Document ID: chunk:federal_register_of_legislation:C2012C00169:clause:4_46
Version: federal_register_of_legislation:C2012C00169
Segment Type: clause
Provision Reference: sch 4 cl 46
Character Range: 61833–62791

46  Subsection 238(2)
Repeal the subsection, substitute:

 (1A) At a particular time, the perfection, and the effect of perfection or non‑perfection, of a security interest in goods is governed by the law of the jurisdiction (other than the law relating to the conflict of laws) in which the goods are located at that time.

Goods that are moved

 (2) Despite subsections (1) and (1A), the validity, perfection, and the effect of perfection or non‑perfection, of a security interest in goods is governed by the law of a particular jurisdiction (the destination jurisdiction), other than the law relating to the conflict of laws, if:
 (a) at the time (the attachment time) the security interest attaches, under that law, to the goods, it was reasonable to believe that the goods would be moved to the destination jurisdiction; and
 (b) the goods are currently located in the destination jurisdiction.

 (2A) Subsection (2) applies from the attachment time.