Document ID: chunk:federal_register_of_legislation:C2016A00043:clause:1_28
Version: federal_register_of_legislation:C2016A00043
Segment Type: clause
Provision Reference: sch 1 cl 28
Character Range: 14487–15295

28  After paragraph 14(2)(f)
Insert:
 (fa) security given over financial property, in respect of obligations of a party to the contract, may be enforced in accordance with the terms of the security, provided the terms of the security are evidenced in writing (but see section 14A);
 (fb) if:
 (i) under section 267 or 267A of the Personal Property Securities Act 2009 or section 588FL of the Corporations Act 2001, a security interest would, but for this paragraph, vest in the grantor before the external administration begins; and
 (ii) where the security interest did not vest under one of those sections before the external administration begins, the security would be enforceable under paragraph (fa);
  the security interest does not vest under that section before the external administration begins;