PERSONAL PROPERTY SECURITIES REGULATIONS 2010 (SLI NO 291 OF 2010) - REG 1.6 Definitions

PERSONAL PROPERTY SECURITIES REGULATIONS 2010 (SLI NO 291 OF 2010) - REG 1.6

                In these Regulations:

ACN (short for 'Australian Company Number') is the number given by ASIC to a company on registration under the Corporations Act 2001 .

"Act" means the Personal Property Securities Act 2009 .

"agriculture" means personal property that is crops or livestock.

aircraft means:

                (a)    a machine or craft that:

                          (i)    can derive support in the atmosphere from the reactions of the air, other than the reactions of the air against the earth's surface; and

                         (ii)    has nationality and registration marks assigned to it under the Chicago Convention; or

               (b)    an aircraft engine; or

                (c)    an airframe; or

               (d)    a helicopter.

"aircraft engine" has the meaning given by the definition of 'aircraft engines' in the Aircraft Protocol.

Note    The Aircraft Protocol contains the following definition of 'aircraft engines':

"aircraft engines" means aircraft engines (other than those used in military, customs or police services) powered by jet propulsion or turbine or piston technology and:

                       (i)     in the case of jet propulsion aircraft engines, have at least 1750 lb of thrust or its equivalent; and

                      (ii)     in the case of turbine-powered or piston-powered aircraft engines, have at least 550 rated take-off shaft horsepower or its equivalent,

together with all modules and other installed, incorporated or attached accessories, parts and equipment and all data, manuals and records relating thereto.

"Aircraft Protocol" means the Protocol on Matters Specific to Aircraft Equipment , done at Cape Town on 16 November 2001.

Note    The Aircraft Protocol is a Protocol to the Convention on International Interests in Mobile Equipment , done at Cape Town on 16 November 2001.

"airframe" has the meaning given by the definition of 'airframes' in the Aircraft Protocol.

Note     The Aircraft Protocol contains the following definition of 'airframes':

"airframes" means airframes (other than those used in military, customs or police services) that, when appropriate aircraft engines are installed thereon, are type certified by the competent aviation authority to transport:

                 (i)     at least eight (8) persons including crew; or

                      (ii)     goods in excess of 2750 kilograms,

together with all installed, incorporated or attached accessories, parts and equipment (other than aircraft engines), and all data, manuals and records relating thereto.

all present and after-acquired property means:

                (a)    personal property over which the grantor has an interest at the registration time for the financing statement for a security interest or prescribed property; and

               (b)    personal property acquired after the registration time for the financing statement for the security interest or prescribed property.

"all present and after-acquired property, except" means all present and after-acquired property, except for an item or class of personal property stated in the financing statement for the interest.

"AML-CTF Act" means the Anti-Money Laundering and Counter-Terrorist Financing Act 2006 .

"ARBN" (short for 'Australian Registered Body Number') is the number given by ASIC to a registrable body on registration under Part 5B.2 of the Corporations Act 2001 .

"ARSN" (short for 'Australian Registered Securities Number') is the number given by ASIC to a registered scheme on registration under section 601EB of the Corporations Act 2001 .

"ASIC" means the Australian Securities and Investments Commission.

"Australian Business Register" means the register established under section 24 of the A New Tax System (Australian Business Number) Act 1999 .

Note    The Australian Business Register can be viewed at http://www.abr.business.gov.au .

chassis number , for a motor vehicle, means the numbers or letters, or both, that:

                (a)    are attached to or stamped on the vehicle's chassis by the vehicle's manufacturer; and

               (b)    appears to uniquely identify the vehicle.

"Chicago Convention" means the Convention on International Civil Aviation done at Chicago on 7 December 1944, as amended by the Protocols mentioned in subsection 3A (2) of the Air Navigation Act 1920 .

"helicopter" has the meaning given by the definition of 'helicopters' in the Aircraft Protocol.

Note    The Aircraft Protocol contains the following definition of 'helicopters':

"helicopters" means heavier-than-air machines (other than those used in military, customs or police services) supported in flight chiefly by the reactions of the air on one or more power-driven rotors on substantially vertical axes and which are type certified by the competent aviation authority to transport:

                 (i)     at least five (5) persons including crew; or

                      (ii)     goods in excess of 450 kilograms,

together with all installed, incorporated or attached accessories, parts and equipment (including rotors), and all data, manuals and records relating thereto.

"hull identification number" , for a watercraft, means a number that:

                (a)    is in a form and of a size, specified in one of the following Standards, published by the International Organization for Standardization:

                          (i)    International Standard No ISO 10087:1995 (E), titled 'Small craft--Hull identification--Coding system';

                         (ii)    International Standard No ISO 10087:2006, titled ' Small craft -- Craft identification -- Coding system'; and

               (b)    is permanently attached to, and located in the positions on, the hull of a vessel specified by a Standard mentioned in paragraph (a); and

                (c)    is allocated to the watercraft by:

                          (i)    a registration authority of a State or Territory; or

                         (ii)    a person authorised by a registration authority of a State or Territory; or

                         (iii)    the watercraft's manufacturer; and

               (d)    appears to uniquely identify the watercraft.

"manufacturer's number" , for an aircraft or motor vehicle, or an outboard motor to which regulation 9.1 applies, means the numbers or letters, or both, that:

                (a)    are permanently attached to or stamped on a permanent part of the aircraft, motor vehicle or outboard motor by its manufacturer; and

               (b)    appears to uniquely identify the aircraft, motor vehicle or outboard motor.

"migrated security interest" has the meaning given by section 332 of the Act.

"National Names Index" means the index of that title created by ASIC.

"original registration time" , for migrated data registered under section 333 of the Act, means the time at which the security interest or prescribed property was first registered on the transitional register.

"outboard motor" means an internal combustion engine that:

                (a)    has a propeller and a manufacturer's number; and

               (b)    is designed to be attached to a boat or vessel; and

                (c)    is intended for use to propel a boat or vessel.

"prescribed property" means personal property mentioned in subregulation 5.3 (1).

"registered scheme" has the meaning given by section 9 of the Corporations Act 2001 .

"registration time" has the meaning given by subsection 160 (1) of the Act.

"responsible entity" has the meaning given by section 9 of the Corporations Act 2001 .

"small aircraft" means an aircraft other than an airframe, aircraft engine or helicopter.

"vehicle identification number" , for a motor vehicle, means a number allocated to the vehicle in accordance with national standards, as in force from time to time, made under the Motor Vehicle Standards Act 1989 .

"watercraft" means a boat or vessel, other than a seaplane, that:

                (a)    is used, or intended to be used, in navigation by water or for any other purpose on water; and

               (b)    that has:

                          (i)    a hull identification number; or

                         (ii)    an official number, within the meaning of the Shipping Registration Regulations 1981 , issued by the Registrar of Ships (within the meaning of the Shipping Registration Act 1981 ).

Note 1    For the meaning of watercraft , see also regulation 9.1.

Note 2    Several other words and expressions used in these Regulations have the meaning given by the Act, for example:

*             ABN

*             account

*             after-acquired property

*             chattel paper

*             crops

*             financial property

*             goods

*             intangible property

*             intermediated security

*             investment instrument

*             livestock

*             National Credit Code

*             negotiable instrument

*             transitional register.