PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 56 How a security interest is continuously perfected

PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 56

  (1)   For the purposes of this Act, a security interest is continuously perfected after a particular time if the security interest is, after that time, perfected under this Act at all times.

  (2)   A security interest may be continuously perfected after a particular time even if, after that time, it is perfected in 2 or more different ways:

  (a)   at any particular time; or

  (b)   at different times.

Examples:   A security interest could be perfected in 2 or more different ways as follows:

(a)   by possession and by a registration;

(b)   by 2 different registrations.