Document ID: chunk:federal_register_of_legislation:F2022C00632:clause:1_3:p1
Version: federal_register_of_legislation:F2022C00632
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 1/3)
Character Range: 48907–51724

3     Body politic or has an interest in collateral, other than in the course of, or for, an enterprise that has been allocated an ABN  Name of body politic, in accordance with constitution of body politic  Constitution of body politic

Part 2—Matters for item 4

2.1  Application of Part 2—personal property that is intermediated security
  For this Part, personal property that is intermediated security is to be treated as financial property.

2.2  Description by serial number
 (1) For paragraph (b) of item 4 of the table in subsection 153(1) of the Act:
 (a) the following classes of collateral, when described as consumer property, must be described by serial number:
 (i) aircraft;
 (ii) intangible property that is:
 (A) a design; or
 (B) a patent; or
 (C) a plant breeder's right; or
 (D) a trade mark; or
 (E) a licence over any intangible property mentioned in sub‑subparagraphs (A) to (D).
 (iii) motor vehicles;
 (iv) watercraft; and
 (b) aircraft that is an aircraft engine, airframe, helicopter or small aircraft, when described as commercial property, must be described by serial number; and
 (c) the following classes of collateral, when described as commercial property, may be described by serial number:
 (i) motor vehicles;
 (ii) watercraft;
 (iii) intangible property that is:
 (A) a design; or
 (B) a patent; or
 (C) a plant breeder's right; or
 (D) a trade mark; or
 (E) a licence over any intangible property mentioned in sub‑subparagraphs (A) to (D).
 (2) If sub‑subparagraph (1)(a)(ii)(E) or (1)(c) (iii)(E) applies, the licence must be described by the serial number of the right for which the licence is given.
 (3) For paragraph (b) of item 4 of the table in subsection 153(1) of the Act, a description of collateral by serial number must include the following information:
 (a) for an aircraft that is an aircraft engine, airframe or helicopter:
 (i) the manufacturer's number; and
 (ii) the manufacturer's name; and
 (iii) the manufacturer's generic model designator;
 (b) for a small aircraft—the nationality and registration marks assigned to it under the Chicago Convention;
 (c) for a motor vehicle:
 (i) the vehicle identification number; or
 (ii) if it has no vehicle identification number but has a chassis number—the chassis number; or
 (iii) if it has no vehicle identification number or chassis number—the manufacturer's number;
 (d) for watercraft:
 (i) the official number; or
 (ii) if it does not have an official number—the hull identification number; or
 (iii) if it is an outboard motor for regulation 1.6—the manufacturer's number;
 (e) for a design:
 (i) the design number issued by IP Australia; or
 (ii) if it does not have a design number—the design application number issued by IP Australia;
 (f) for a patent:
  (i) the patent number issued by IP Australia; or