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PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 164 Defects in registration--general rule

PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 164

Defects in registration--general rule

  (1)   A registration with respect to a security interest that describes particular collateral is ineffective because of a defect in the register if, and only if, there exists:

  (a)   a seriously misleading defect in any data relating to the registration, other than a defect of a kind prescribed by the regulations; or

  (b)   a defect mentioned in section   165.

  (2)   In order to establish that a defect is seriously misleading, it is not necessary to prove that any person was actually misled by it.

  (3)   A registration that describes particular collateral is not ineffective only because the registration is ineffective with respect to other collateral described in the registration.