(2) The priority given to interests (within the
meaning of the Commonwealth Act) by Division 2 of Part 2.6 of the Commonwealth
Act, to the extent that it would give priority to such an interest over a
statutory State interest in a ship, is declared to be an excluded matter for
the purposes of section 259 of the Commonwealth Act in relation to Division 2
of Part 2.6 of that Act.
"compulsorily detained under this Act" , in relation to a ship, means the
detention of the ship under section 176, 186, 208, 221 or 237 of this Act.
"right of seizure created by the Commonwealth Act" means a right under section
123 of the Commonwealth Act of a secured party (within the meaning of that
Act) to seize collateral in the form of a ship.
"statutory State interest" means an interest of the Minister under a security
provided in compliance with section 186, 208, 223 or 237 of this Act.
Note :
New South Wales has referred certain matters relating to security interests in
personal property to the Commonwealth, which means that the Commonwealth
Parliament has power under section 51(xxxvii) of the Commonwealth Constitutionto make laws in respect of those matters. The Commonwealth Parliament passed
the Personal Property Securities Act 2009 . Normally a law of the
Commonwealth prevails over a State law to the extent of any inconsistency
between them (see section 109 of the Commonwealth Constitution). However,
section 259 of the Personal Property Securities Act 2009 of the Commonwealth
provides that a law of a referring State can declare a matter to be an
excluded matter for the purposes of that section. If that is done, the
Personal Property Securities Act 2009 does not apply in relation to the
excluded matter. This section excludes certain matters in relation to certain
provisions of the Commonwealth Act.