Commonwealth Consolidated Acts

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PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 306

Meaning of migration time and registration commencement time

Migration time

             (1)  For the purposes of this Act, the migration time is:

                     (a)  the start of the first day of the month that is 25 months after the month in which this Act is given the Royal Assent; or

                     (b)  another time determined by the Minister.

Example:    If this Act were given the Royal Assent on 10 December 2009, the migration time under paragraph (a) would be the start of 1 January 2012.

Registration commencement time

             (2)  For the purposes of this Act, the registration commencement time is at:

                     (a)  the start of the first day of the month that is 26 months after the month in which this Act is given the Royal Assent; or

                     (b)  another time determined by the Minister.

Example:    If this Act were given the Royal Assent on 10 December 2009, the registration commencement time under paragraph (a) would be the start of 1 February 2012.

             (3)  The Minister may only determine a time for the purposes of paragraph (2)(b) that is on a day that is at least 28 days after the day on which the migration time occurs.

             (4)  If the Minister determines other times for both the migration time and the registration commencement time, the Minister may, after the migration time, make a further determination for the purposes of paragraph (2)(b) that has the effect of providing for a later registration commencement time.

Note:          The registration commencement time determined by the further determination must be at least 28 days after the day on which the migration time occurs.

             (5)  The Minister may, by written instrument, determine a time for the purposes of paragraph (1)(b) or (2)(b) (including a determination mentioned in subsection (4)).

             (6)  A determination made under subsection (5) is a legislative instrument, but section 42 (disallowance) of the Legislation Act 2003 does not apply to the determination.



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