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PERSONAL PROPERTY SECURITIES REGULATIONS 2010 - SCHEDULE 1 Financing statement matters for items of table in subsection 153(1) of Act

PERSONAL PROPERTY SECURITIES REGULATIONS 2010 - SCHEDULE 1

Financing statement matters for items of table in subsection 153(1) of Act

(subregulation   5.5(1))

Part   1 -- Matters for items   1 and 2

1.1   Definitions for Part   1

    In this Part:

"individual" :

  (a)   includes a sole trader who has an ABN for the enterprise for which the security interest is granted or held; and

  (b)   does not include an individual who is a partner in a partnership or a trustee of a trust if the partnership or trust has an ABN for the enterprise for which the security interest is granted or held.

1.2   Individual secured party or grantor

  (1)   For items   1 and 2 of the table in subsection   153(1) of the Act, this clause applies if the secured party or grantor is an individual.

  (2)   The details mentioned in each item of the table, from the source mentioned for the item, are prescribed for the individual mentioned in the item.

  (3)   For subclause   (2), the prescribed details are the details mentioned in the item of the table that:

  (a)   applies to the individual; and

  (b)   has the lowest item number.

  (4)   For a grantor, in addition to the details mentioned in each item of the table, the grantor's date of birth is prescribed.

  (5)   The source for a grantor's date of birth is the source in an item of the table that:

  (a)   includes details of dates of birth; and

  (b)   applies to the grantor; and

  (c)   has the lowest item number.

  (6)   Item   1 of the table applies only to a registration by the Registrar under subsection   333(2) of the Act.

 

Item

Individual

Details

Source

1

Individual whose details are recorded in a transitional register, for a migrated security interest

Individual's surname and given names, as recorded on the transitional register

Transitional register

2

Individual grantor who is known to the secured party, because of the operation of the AML - CTF Act

Individual's surname and given names, as known to the secured party, because of the operation of the AML - CTF Act

Current data known by the secured party, because of the operation of the AML - CTF Act

3

Individual who holds a current driver's licence

Individual's surname and given names, as recorded on the individual's driver's licence

Current driver's licence issued by a State or Territory licensing authority to the individual

4

Individual who holds a current proof of identity or current proof of age card

Individual's surname and given names, as recorded on a proof of identity or proof of age card issued by a State or Territory body

Current proof of identity or current proof of age card issued by a State or Territory body to the individual

5

Individual who holds a current Australian passport

Individual's surname and given names, as recorded on the individual's current Australian passport

Current Australian passport issued to the individual

6

Individual who holds a current visa, issued by the Australian Government

Individual's surname and given names, as recorded on the individual's current Australian visa

Current Australian visa issued for the individual

7

Individual who holds a current passport other than an Australian passport

Individual's surname and given names, as recorded on the individual's current passport issued by the jurisdiction in which the individual ordinarily resides

Current passport issued by the jurisdiction in which the individual ordinarily resides

8

Any other individual

Individual's surname and given names, as recorded on the individual's birth certificate

Birth certificate issued for the individual

1.3   Body corporate secured party or grantor

  (1)   For items   1 and 2 of the table in subsection   153(1) of the Act, this clause applies if the secured party or grantor is a body corporate that:

  (a)   is a trustee and has an ARSN; or

  (b)   is not a trustee of a trust that has an ABN.

  (2)   The details mentioned in each item of the table, from the source mentioned for the item, are prescribed for the body corporate mentioned in the item.

  (3)   For subclause   (2), the prescribed details are the details mentioned in the item of the table that:

  (a)   applies to the body corporate; and

  (b)   has the lowest item number.

  (4)   Item   1 of the table applies only to a registration by the Registrar under subsection   333(2) of the Act.

 

Item

Body corporate

Details

Source

1

Body corporate for which details have been included on the transitional register, for a migrated security interest

Body corporate number or name of body corporate, as recorded on the transitional register

Transitional register

2

Body corporate that is the responsible entity of a registered scheme, if the scheme has an ARSN

Registered scheme's ARSN

A business register kept by ASIC

2.5

Body corporate that is a CCIV, if the CCIV is the secured party or grantor for a sub - fund of the CCIV and the sub - fund has an ARFN

Sub - fund's ARFN

A business register kept by ASIC

3

Body corporate that has an ACN

ACN

A business register kept by ASIC

4

Body corporate that has an ARBN

ARBN

A business register kept by ASIC

5

Any other body corporate

Name of body corporate, as provided for in body corporate's constitution or equivalent document

Body corporate's constitution or equivalent document

1.4   Secured party or grantor is a partner

  (1)   For items   1 and 2 of the table in subsection   153(1) of the Act, this clause applies if the secured party or grantor is a partner in a partnership.

  (2)   The details mentioned in each item of the table, from the source mentioned for the item, are prescribed for the partner mentioned in the item.

  (3)   For subclause   (2), the prescribed details are the details mentioned in the item of the table that:

  (a)   applies to the partner; and

  (b)   has the lowest item number.

  (4)   Item   1 of the table applies only to a registration by the Registrar under subsection   333(2) of the Act.

  (5)   Despite subclause   (2), if an individual partner grants a security interest over the partner's net interest in a partnership, the prescribed details are the details mentioned in the item of the table in clause   1.2 that:

  (a)   applies to the partner; and

  (b)   has the lowest item number.

  (6)   Despite item   3 of the table, if a body corporate is a partner in a partnership that does not have an ABN, the prescribed details are the details mentioned in the item of the table in clause   1.3 that:

  (a)   applies to the body corporate; and

  (b)   has the lowest item number.

 

Item

Partner

Details

Source

1

Partner of a partnership for which details of the partnership have been included on the transitional register, for a migrated security interest

ABN, name of partner or name that identifies partnership, as recorded on the transitional register

Transitional register

2

Partner of a partnership that holds or has an interest in collateral in the course of, or for, an enterprise that has been allocated an ABN

ABN

Australian Business Register

3

Partner in any other partnership

Details mentioned in the item in the table in clause   1.2 that applies to the partner

Source of the details mentioned in the item in the table in clause   1.2 that applies to the partner

1.5   Secured party or grantor is a trustee

  (1)   For items   1 and 2 of the table in subsection   153(1) of the Act, this clause applies if the secured party or grantor is:

  (a)   a body corporate that is a trustee of a trust that:

  (i)   has an ABN; and

  (ii)   does not have an ARSN; or

  (b)   any other trustee of a trust.

  (2)   The details mentioned in each item of the table, from the source mentioned for the item, are prescribed for the trustee mentioned in the item.

  (3)   For subclause   (2), the prescribed details are:

  (a)   for a trustee that is an individual--the details mentioned in the item of the table in clause   1.2 that:

  (i)   applies to the trustee; and

  (ii)   has the lowest item number; and

  (b)   in any other case--the details mentioned in the item of the table that:

  (i)   applies to the trustee; and

  (ii)   has the lowest item number.

  (4)   In this clause:

"trustee details" means:

  (a)   the ABN allocated to the enterprise carried on by the trust; or

  (b)   the ACN or ARBN allocated to the trustee; or

  (c)   the name of the trust or trustee.

  (5)   Item   1 of the table applies only to a registration by the Registrar under subsection   333(2) of the Act.

 

Item

Trustee

Details

Source

1

Trustee of a trust for which details have been included on the transitional register, for a migrated security interest

Trustee details, as recorded on the transitional register

Transitional register

2

Trustee of a trust that holds or has an interest in collateral in the course of, or for, an enterprise that has been allocated an ABN

ABN

Australian Business Register

3

Trustee of any other trust

Trustee details mentioned in paragraph   (3)(a)

Source mentioned in paragraph   (3)(a)

1.6   Body politic secured party or grantor

  (1)   For items   1 and 2 of the table in subsection   153(1) of the Act, this clause applies if the secured party or grantor is a body politic.

  (2)   The details mentioned in each item of the table, from the source mentioned for the item, are prescribed for the body politic mentioned in the item.

  (3)   For subclause   (2), the prescribed details are the details mentioned in the item of the table that:

  (a)   applies to the body politic; and

  (b)   has the lowest item number.

  (4)   Item   1 of the table applies only to a registration by the Registrar under subsection   333(2) of the Act.

 

Item

Body politic

Details

Source

1

Body politic for which details have been included on the transitional register, for a migrated security interest

Body politic details, as recorded on the transitional register

Transitional register

2

Body politic that holds or has an interest in collateral in course of, or for, an enterprise that has been allocated an ABN

ABN

Australian Business Register

3

Body politic or has an interest in collateral, other than in the course of, or for, an enterprise that has been allocated an ABN

Name of body politic, in accordance with constitution of body politic

Constitution of body politic

Part   2 -- Matters for item   4

2.1   Application of Part   2--personal property that is intermediated security

    For this Part, personal property that is intermediated security is to be treated as financial property.

2.2   Description by serial number

  (1)   For paragraph   (b) of item   4 of the table in subsection   153(1) of the Act:

  (a)   the following classes of collateral, when described as consumer property, must be described by serial number:

  (i)   aircraft;

  (ii)   intangible property that is:

  (A)   a design; or

  (B)   a patent; or

  (C)   a plant breeder's right; or

  (D)   a trade mark; or

  (E)   a licence over any intangible property mentioned in sub - subparagraphs   (A) to (D).

  (iii)   motor vehicles;

  (iv)   watercraft; and

  (b)   aircraft that is an aircraft engine, airframe, helicopter or small aircraft, when described as commercial property, must be described by serial number; and

  (c)   the following classes of collateral, when described as commercial property, may be described by serial number:

  (i)   motor vehicles;

  (ii)   watercraft;

  (iii)   intangible property that is:

  (A)   a design; or

  (B)   a patent; or

  (C)   a plant breeder's right; or

  (D)   a trade mark; or

  (E)   a licence over any intangible property mentioned in sub - subparagraphs   (A) to (D).

  (2)   If sub - subparagraph   (1)(a)(ii)(E) or (1)(c) (iii)(E) applies, the licence must be described by the serial number of the right for which the licence is given.

  (3)   For paragraph   (b) of item   4 of the table in subsection   153(1) of the Act, a description of collateral by serial number must include the following information:

  (a)   for an aircraft that is an aircraft engine, airframe or helicopter:

  (i)   the manufacturer's number; and

  (ii)   the manufacturer's name; and

  (iii)   the manufacturer's generic model designator;

  (b)   for a small aircraft--the nationality and registration marks assigned to it under the Chicago Convention;

  (c)   for a motor vehicle:

  (i)   the vehicle identification number; or

  (ii)   if it has no vehicle identification number but has a chassis number--the chassis number; or

  (iii)   if it has no vehicle identification number or chassis number--the manufacturer's number;

  (d)   for watercraft:

  (i)   the official number; or

  (ii)   if it does not have an official number--the hull identification number; or

  (iii)   if it is an outboard motor for regulation   1.6--the manufacturer's number;

  (e)   for a design:

  (i)   the design number issued by IP Australia; or

  (ii)   if it does not have a design number--the design application number issued by IP Australia;

  (f)   for a patent:

    (i)   the patent number issued by IP Australia; or

  (ii)   if it does not have a patent number--the patent application number issued by IP Australia; or

  (iii)   if it does not have a patent number or a patent application number--a PCT number;

  (g)   for a plant breeder's right:

  (i)   the plant breeder's right number issued by IP Australia; or

  (ii)   if it does not have a plant breeder's right number--the plant breeder's right application number issued by IP Australia;

  (h)   for a trade mark:

    (i)   the trade mark number issued by IP Australia; or

  (ii)   if it does not have a trade mark number--the trade mark application number issued by IP Australia.

  (4)   In this clause:

"PCT number" means:

  (a)   an international application number, issued under paragraph   30(2)(b) of the Patent Cooperation Treaty done at Washington 19   June 1970, amended on 2   October   1979 and modified on 3   February   1984 and 3   October   2001; or

  (b)   if there is no international application number--an international publication number issued by the World Intellectual Property Organization.

2.3   Classes of collateral

  (1)   For paragraph   (c) of item   4 of the table in subsection   153(1) of the Act, the following classes of collateral are prescribed:

  (a)   agriculture;

  (b)   aircraft;

  (c)   all present and after - acquired property;

  (d)   all present and after - acquired property, except;

  (e)   financial property;

  (f)   intangible property;

  (g)   motor vehicles;

  (h)   other goods;

  (i)   watercraft.

  (2)   In paragraph   (1)(h):

"other goods" means personal property that is goods, other than agriculture, aircraft, motor vehicles and watercraft.

2.4   Description of proceeds

    For paragraph   (d) of item   4 of the table in subsection   153(1) of the Act, a description of proceeds must describe proceeds:

  (a)   as all present and after - acquired property; or

  (b)   for a particular item of personal property--in a way that identifies the item, including identifying a class to which the item belongs; or

  (c)   for a class of personal property--in a way that identifies the class, including identifying the class by identifying a larger class of personal property that wholly includes the class.

Part   3 -- Matters for item   7

3.1   Purchase money security interest

    For item   7 of the table in subsection   153(1) of the Act, property is in a prescribed class of collateral if the collateral can be subject to a purchase money security interest under section   14 of the Act.

Part   4 -- Matters for item   8

4.1   Prescribed matters--financing statement

    For item   8 of the table in subsection   153(1) of the Act, for collateral, the details mentioned in each item of the table, about the subject mentioned for the item, for the purpose mentioned in the item.

 

Item

Subject

Purpose

Details

1

Inventory

Determining whether collateral may include inventory, for Part   9.5 of the Act

For collateral that is commercial property--whether or not the collateral may include inventory

2

Control

Determining whether collateral may be subject to control, for Part   9.5 of the Act

For collateral that is commercial property--whether or not the collateral may be subject to control

3

Transitional security interest

Indicating whether a security interest is a transitional security interest

If a security interest is a transitional security interest for section   308 of the Act--a statement that the security interest is a transitional security interest

4

Migrated security interest

Indicating whether a registration is a migrated registration

If collateral is subject to a migrated security interest:

(a) a statement that the security interest is a migrated security interest; and

(b) the name of the transitional register in which the data about the transitional security interest was held; and

(c) when the migrated data was registered in the transitional register

5

Data from Australian Business Register or a business register kept by ASIC

Recording details from Australian Business Register or a business register kept by ASIC

If an ABN, ACN, ARSN , ARBN or ARFN is entered in a financing statement and a verification of these numbers is undertaken with the Australian Business Register or a business register kept by ASIC--the entity name or other data attached to those identifier numbers obtained from the Australian Business Register or a business register kept by ASIC

Note:   For the application of item   4, section   333 of the Act.