Commonwealth Numbered Acts

PERSONAL PROPERTY SECURITIES ACT 2009 (NO. 130, 2009) - SECT 299

             (1)  This section applies if:

                     (a)  a person (the transferee ) acquires personal property from another person (the transferor ); and

                     (b)  any of the following applies:

                              (i)  the transferee is a member of the same household as the transferor;

                             (ii)  the transferee is an associated entity (within the meaning of the Corporations Act 2001 ) of the transferor, or the transferor is such an associated entity of the transferee;

                            (iii)  the transferee is a director or officer (within the meaning of the Corporations Act 2001 ) of the transferor, or the transferor is such a director or officer of the transferee.

             (2)  For the purposes of this Act, the following is to be presumed, unless the contrary is shown beyond reasonable doubt:

                     (a)  the transferee had actual or constructive knowledge that the acquisition constituted a breach of the security agreement that provides for a security interest in the personal property;

                     (b)  the transferee had actual or constructive knowledge of a security interest in the personal property;

                     (c)  value was not given by the transferee for the interest acquired.