Commonwealth Consolidated Acts

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PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 165

Defects in registration--particular defects

                   For the purposes of paragraph 164(1)(b), a defect in a registration that describes particular collateral exists at a particular time if any of the following circumstances exist:

                     (a)  in a case in which the collateral is required by the regulations to be described by serial number in the register--no search of the register by reference to that time, and by reference only to the serial number of the collateral, is capable of disclosing the registration;

                     (b)  in a case in which the collateral is not required by the regulations to be described by serial number in the register--no search of the register by reference to that time, and by reference only to the grantor's details (required to be included in the registered financing statement under section 153), is capable of disclosing the registration;

                     (c)  if the registered financing statement (as amended, if at all) indicates that a security interest in the collateral is a purchase money security interest (to any extent)--the security interest is not a purchase money security interest (to any extent) in the collateral;

                     (d)  in any case--circumstances in relation to the data related to the registration that are prescribed by the regulations.



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