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Queensland
MOTOR VEHICLES
SECURITIES AND OTHER
ACTS AMENDMENT BILL 2001
Queensland
MOTOR VEHICLES SECURITIES AND
OTHER ACTS AMENDMENT BILL 2001
TABLE OF PROVISIONS
Section Page
PART 1--PRELIMINARY
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
2 Commencement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
PART 2--AMENDMENT OF MOTOR VEHICLES SECURITIES
ACT 1986
3 Act amended in pt 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
4 Replacement of title. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
5 Replacement of s 1 (Short title). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
PART 1--PRELIMINARY
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
6 Amendment of s 5 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
7 Insertion of new ss 5A and 5B and pt hdg. . . . . . . . . . . . . . . . . . . . . . . . . . . 8
5A Meaning of "motor vehicle" . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
5B Application of declared sections . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
8 Amendment of s 6 (Register) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
9 Amendment of s 7 (Application for registration, or renewal of registration, of
security interest) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
10 Amendment of s 7A (Registration of restraining orders) . . . . . . . . . . . . . . . 9
11 Amendment of s 8 (Application for assignment of a registered security interest) 9
12 Omission of s 11 (Effect of failure to register a security interest) . . . . . . . . 10
13 Replacement of s 12 (Priority of security interests) . . . . . . . . . . . . . . . . . . . 10
12 Priority of security interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
14 Insertion of pt and div hdgs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
15 Amendment of s 14 (Application for discharge of registered security interest) 11
2
Motor Vehicles Securities and Other Acts Amendment Bill 2001
16 Replacement of s 18 (Rectification of register). . . . . . . . . . . . . . . . . . . . . . . 11
18 Rectification of register . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
18A Removal of particulars of improperly registered interests. . . . . . . . . 12
17 Insertion of div hdg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
18 Insertion of pt hdg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
19 Amendment of s 22 (Security interest certificate). . . . . . . . . . . . . . . . . . . . . 14
20 Replacement of s 23 (Inspecting the register) . . . . . . . . . . . . . . . . . . . . . . . . 14
23 Inspecting register . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
21 Insertion of div hdg . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
22 Amendment of s 26 (Extinguishing of security interest) . . . . . . . . . . . . . . . 15
23 Insertion of new s 26A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
26A Revival of extinguished security interest . . . . . . . . . . . . . . . . . . . . . . 16
24 Amendment of s 27 (Purchases to which s 26 does not apply). . . . . . . . . . . 16
25 Replacement of s 30 (Compensation for loss etc. by purchaser) . . . . . . . . . 17
30 Effects of incorrect certificate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
PART 5--GENERAL
30A Arrangements for fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
26 Amendment of s 39 (Regulations). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
27 Insertion of new s 40 and pts 6 and 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
40 Approved forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
PART 6--TRANSITIONAL PROVISIONS FOR MOTOR VEHICLES
SECURITIES AND OTHER ACTS AMENDMENT ACT 2001
41 Definitions for pt 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
42 Registration of existing security interest under Bills of Sale and Other
Instruments Act 1955 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
43 Chief executive to register transferred security interest. . . . . . . . . . . 21
44 Transitional rules for deciding priority of security interests . . . . . . . 21
PART 7--VALIDATION PROVISION
45 Validation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
PART 3--AMENDMENT OF BILLS OF SALE AND OTHER
INSTRUMENTS ACT 1955
28 Act amended in pt 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
29 Replacement of s 7 (Application of pt 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
3
Motor Vehicles Securities and Other Acts Amendment Bill 2001
7 Application of pt 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
30 Insertion of new pt 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
PART 7--TRANSITIONAL PROVISIONS FOR MOTOR VEHICLES
SECURITIES AND OTHER ACTS AMENDMENT ACT 2001
57 Ending of registration of security interest over boat . . . . . . . . . . . . . 23
PART 4--AMENDMENT OF PROPERTY AGENTS AND MOTOR
DEALERS ACT 2000
31 Act amended in pt 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
32 Insertion of new ch 7, pt 2, div 7A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Division 7A--Sales of used boats
230A Definitions for div 7A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
230B Sales of used boats. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
33 Amendment of s 471 (Persons who can not claim). . . . . . . . . . . . . . . . . . . . 26
34 Amendment of sch 3 (Dictionary). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
PART 5--AMENDMENT OF SECONDHAND DEALERS AND
COLLECTORS ACT 1984
35 Act amended in pt 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
36 Amendment of s 6 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
37 Insertion of new pt 3, div 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Division 3--Sales of second hand boats, other than by auction
48A Definitions for div 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
48B Sale of boat by disposer other than by auction . . . . . . . . . . . . . . . . . 27
PART 6--OTHER CONSEQUENTIAL AND MINOR
AMENDMENTS OF ACTS AND REGULATION
38 Amendments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
SCHEDULE 1 . . . . . . . . . . . . . . . . . . . . . . . . 30
CONSEQUENTIAL AND MINOR AMENDMENTS OF ACTS
MOTOR VEHICLES SECURITIES ACT 1986 . . . . . . . . . . . . . . . . . . . . . . 30
PROPERTY AGENTS AND MOTOR DEALERS ACT 2000 . . . . . . . . . . . 31
TRANSPORT OPERATIONS (ROAD USE MANAGEMENT) ACT 1995 31
SCHEDULE 2 . . . . . . . . . . . . . . . . . . . . . . . . 32
CONSEQUENTIAL AMENDMENT OF REGULATION
MOTOR VEHICLES SECURITIES REGULATION 1995 . . . . . . . . . . . . . 32
2001
A BILL
FOR
An Act to amend the Motor Vehicles Securities Act 1986, and for other
purposes
s1 6 s4
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
The Parliament of Queensland enacts-- 1
PART 1--PRELIMINARY 2
1 Short title
Clause 3
This Act may be cited as the Motor Vehicles Securities and Other Acts 4
Amendment Act 2001. 5
2 Commencement
Clause 6
(1) The following provisions commence on assent-- 7
· section 25 (to the extent it inserts section 30A into the Motor 8
Vehicles Securities Act 1986); 9
· section 26; 10
· section 27 (to the extent it inserts section 45 into the Motor 11
Vehicles Securities Act 1986); 12
· section 38(2) and schedule 2. 13
(2) The remaining provisions commence on a day to be fixed by 14
proclamation. 15
PART 2--AMENDMENT OF MOTOR VEHICLES 16
SECURITIES ACT 1986 17
3 Act amended in pt 2
Clause 18
This part amends the Motor Vehicles Securities Act 1986. 19
4 Replacement of title
Clause 20
Title-- 21
omit, insert-- 22
s5 7 s6
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
`An Act to provide for the registration of security interests in motor 1
vehicles and boats, and for other purposes'. 2
5 Replacement of s 1 (Short title)
Clause 3
Section 1-- 4
omit, insert-- 5
`PART 1--PRELIMINARY 6
`1 Short title 7
`This Act may be cited as the Motor Vehicles and Boats Securities Act 8
1986.'. 9
6 Amendment of s 5 (Definitions)
Clause 10
(1) Section 5, definition "motor vehicle"-- 11
omit. 12
(2) Section 5-- 13
insert-- 14
` "approved form" means a form approved by the chief executive under 15
section 40.1 16
"boat" means a ship within the meaning of the Transport Operations 17
(Marine Safety) Act 1994 that is registered under that Act. 18
"existing security interest", for part 6, see section 41. 19
"holder", for part 6, see section 41. 20
"motor vehicle" see section 3. 21
"primary section", for part 6, see section 41. 22
"transferred security interest", for part 6, see section 41.'. 23
(3) Section 5, definition "security interest", after `motor vehicle'-- 24
insert-- 25
`or boat'. 26
1 Section 40 (Approved forms)
s7 8 s7
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
7 Insertion of new ss 5A and 5B and pt hdg
Clause 1
After section 5-- 2
insert-- 3
`5A Meaning of "motor vehicle" 4
`(1) "Motor vehicle" means a land vehicle that moves on wheels and is 5
propelled by a motor that is part of the vehicle. 6
`(2) "Motor vehicle" also includes a caravan or trailer designed to be 7
attached to, or drawn by, a motor vehicle of a type mentioned in 8
subsection (1). 9
`(3) "Motor vehicle" does not include the following-- 10
(a) a vehicle designed for use primarily in the mining industry; 11
(b) farm machinery; 12
(c) a vehicle designed for use on a railway or tramway. 13
`5B Application of declared sections 14
`(1) If a motor vehicle or boat is in Queensland, a declared section 15
applies to a security interest in the motor vehicle or boat despite anything to 16
the contrary in an Act or a law of another State about a security interest in 17
the motor vehicle or boat. 18
`(2) For subsection (1), it does not matter whether the interest is created 19
within or outside Queensland. 20
`(3) In this section-- 21
"declared section" means each of the following-- 22
· section 12 23
· section 13 24
· section 26 25
· section 26A 26
· section 27.2 27
2 Section 12 (Priority of security interests), 13 (Notice of security interest),
26 (Extinguishing of security interest), 26A (Revival of extinguished security
interest) and 27 (Purchases to which s 26 does not apply)
s8 9 s 11
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
`PART 2--REGISTRATION, PRIORITY AND NOTICE 1
OF SECURITY INTERESTS'. 2
8 Amendment of s 6 (Register)
Clause 3
(1) Section 6(2)(d), after `motor vehicle'-- 4
insert-- 5
`or boat'. 6
(2) Section 6(3)-- 7
omit, insert-- 8
`(3) The register may be kept in the way the chief executive considers 9
appropriate. 10
`(4) The chief executive may also include in the register any particulars 11
of stolen motor vehicles or boats the chief executive considers 12
appropriate.'. 13
9 Amendment of s 7 (Application for registration, or renewal of
Clause 14
registration, of security interest) 15
(1) Section 7(1)(b)-- 16
omit. 17
(2) Section 7(1)(c)-- 18
renumber as section 7(1)(b). 19
10 Amendment of s 7A (Registration of restraining orders)
Clause 20
Section 7A(2), (3) and (4) after `motor vehicle'-- 21
insert-- 22
`or boat'. 23
11 Amendment of s 8 (Application for assignment of a registered
Clause 24
security interest) 25
(1) Section 8(2)(b)-- 26
omit. 27
s 12 10 s 13
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
(2) Section 8(2)(c)-- 1
renumber as section 8(2)(b). 2
12 Omission of s 11 (Effect of failure to register a security interest)
Clause 3
Section 11-- 4
omit. 5
13 Replacement of s 12 (Priority of security interests)
Clause 6
Section 12-- 7
omit, insert-- 8
`12 Priority of security interests 9
`(1) A registered security interest in a motor vehicle or boat ranks in 10
priority over an unregistered security interest in the same motor vehicle or 11
boat. 12
`(2) A registered security interest in a motor vehicle or boat ranks in 13
priority over another registered security interest in the same motor vehicle 14
or boat according to the order of registration. 15
`(3) An unregistered security interest in a motor vehicle or boat ranks in 16
priority over a registered security interest in the same motor vehicle or boat 17
if-- 18
(a) under the unregistered security interest the holder of the interest 19
takes possession of the motor vehicle or boat; and 20
(b) the taking of possession happens before the registered security 21
interest is registered. 22
`(4) Despite the Property Law Act 1974, section 82,3 the priority given to 23
a security interest under this section has effect for all amounts, including 24
further advances, owing to the holder of the security interest under it. 25
`(5) Subsections (1) to (4) apply subject to the following-- 26
(a) an express contrary provision in the Corporations Law; 27
(b) an agreement between the holders of security interests. 28
3 Property Law Act 1974, section 82 (Tacking and further advances)
s 14 11 s 16
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
`(6) Also, despite subsections (1) to (4), a repairer's lien over the motor 1
vehicle or boat ranks in priority over any other security interest in the 2
motor vehicle or boat regardless of-- 3
(a) when it was created; or 4
(b) whether it was registered, or if registered, when it was registered. 5
`(7) In this section-- 6
"repairer's lien", for a motor vehicle or boat, means a lien held by a 7
person possessing the motor vehicle or boat as security for payment 8
for services or materials supplied in relation to the motor vehicle or 9
boat by the person in the ordinary course of business.'. 10
14 Insertion of pt and div hdgs
Clause 11
After section 13-- 12
insert-- 13
`PART 3--DISCHARGE OF REGISTERED SECURITY 14
INTERESTS 15
`Division 1--Discharge of registered security interest'. 16
15 Amendment of s 14 (Application for discharge of registered
Clause 17
security interest) 18
(1) Section 14(1)(b)-- 19
omit. 20
(2) Section 14(1)(c), `(if any)'-- 21
omit. 22
(3) Section 14(1)(c)-- 23
renumber as section 14(1)(b). 24
16 Replacement of s 18 (Rectification of register)
Clause 25
Section 18-- 26
omit, insert-- 27
s 16 12 s 16
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
`18 Rectification of register 1
`(1) This section applies if there is a change in any of the particulars 2
entered in the register for a registered security interest. 3
`(2) The chief executive may, on application by, or for, the holder of the 4
interest, amend the register to record the change. 5
`(3) The application must-- 6
(a) be made in the way prescribed under a regulation; and 7
(b) be accompanied by the prescribed fee. 8
`18A Removal of particulars of improperly registered interests 9
`(1) This section applies if, after registering an interest that appeared to 10
the chief executive to be a security interest, the chief executive, whether on 11
the basis of information given to the chief executive or otherwise, 12
reasonably believes the interest is not a security interest. 13
`(2) The chief executive may, by written notice, require the holder of the 14
interest to give to the chief executive within a stated reasonable time, of at 15
least 14 days, information the chief executive reasonably considers is 16
necessary to enable the chief executive to decide whether the interest is a 17
security interest. 18
`(3) The holder must comply with the requirement within the time stated 19
in the notice or the longer time the chief executive may allow in writing. 20
Maximum penalty--30 penalty units. 21
`(4) After considering all the information given to the chief executive, 22
the chief executive may, if reasonably satisfied the interest is not a security 23
interest, remove the particulars of the interest included in the register. 24
`(5) However, before removing the particulars, the chief executive must 25
give written notice of the decision and the reasons for the decision to-- 26
(a) the holder; and 27
(b) the person the chief executive reasonably believes is the owner or 28
person in possession of the motor vehicle or boat the subject of 29
the interest. 30
`(6) The notice must state the following-- 31
(a) the holder may apply to a Magistrates Court ("court") before the 32
end of the notice period for an order maintaining the registration; 33
s 17 13 s 18
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
(b) the particulars included in the register will be removed from the 1
register unless the holder obtains a court order maintaining the 2
registration. 3
`(7) The chief executive must remove the particulars included in the 4
register if-- 5
(a) before the end of the notice period, the holder has not-- 6
(i) satisfied the chief executive that the holder has filed an 7
application for an order maintaining the registration; or 8
(ii) given the chief executive a copy of a court order 9
maintaining the registration; or 10
(b) a court orders, on application under subsection (8), that the 11
particulars included on the register be removed. 12
`(8) On application by the holder, a court may order-- 13
(a) that the registration be maintained; or 14
(b) that the particulars included in the register be removed. 15
`(9) In this section-- 16
"notice period" means a period of 14 days after giving a notice under 17
subsection (5).'. 18
17 Insertion of div hdg
Clause 19
After section 20-- 20
insert-- 21
`Division 2--False or misleading information or documents'. 22
18 Insertion of pt hdg
Clause 23
After section 21A-- 24
insert-- 25
s 19 14 s 20
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
`PART 4--SECURITY INTERESTS 1
`Division 1--Security interest certificates'. 2
19 Amendment of s 22 (Security interest certificate)
Clause 3
(1) Section 22(1), `vehicle' to `approved form'-- 4
omit, insert-- 5
`motor vehicle or boat if the person-- 6
(a) asks the chief executive, in the way prescribed under a 7
regulation'. 8
(2) Section 22(2), after `motor vehicle'-- 9
insert-- 10
`or boat'. 11
(3) Section 22(2)(a) and (b), `the vehicle'-- 12
omit, insert-- 13
`the motor vehicle or boat'. 14
(4) Section 22(5)-- 15
omit. 16
20 Replacement of s 23 (Inspecting the register)
Clause 17
Section 23-- 18
omit, insert-- 19
`23 Inspecting register 20
`(1) On payment of the fee prescribed under a regulation, a person may 21
inspect the register or get a copy of details in the register-- 22
(a) at an office of the department when the office is open to the 23
public; or 24
(b) by using a computer under arrangements approved by the chief 25
executive. 26
`(2) In this section-- 27
s 21 15 s 22
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
"computer" means a mechanical, electronic or other device that processes 1
data.'. 2
21 Insertion of div hdg
Clause 3
After section 24-- 4
insert-- 5
`Division 2--Extinguishment of security interests'. 6
22 Amendment of s 26 (Extinguishing of security interest)
Clause 7
(1) Section 26(1), after `motor vehicle', first mention-- 8
insert-- 9
`or boat (the "holder")'. 10
(2) Section 26(1), after `motor vehicle', second, third and fourth 11
mention-- 12
insert-- 13
`or boat'. 14
(3) Section 26(1), `person', second and third mention-- 15
omit, insert-- 16
`purchaser'. 17
(4) Section 26(2) to (4)-- 18
renumber as 26(4) to (6). 19
(5) Section 26(4) as renumbered, after `motor vehicle'-- 20
insert-- 21
`or boat'. 22
(6) Section 26-- 23
insert-- 24
`(2) If a security interest is extinguished under subsection (1), the holder 25
of the security interest is, to the extent of the amount owing to the holder 26
under the security interest, subrogated to the rights, if any, of the seller, or a 27
predecessor in title of the seller, in the motor vehicle or boat, including the 28
right to receive any unpaid purchase price for it. 29
s 23 16 s 24
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
`(3) The purchaser obtains a good discharge-- 1
(a) as against the seller--for any payment of part of the purchase 2
price made to the holder because of the holder's rights under 3
subsection (2); and 4
(b) as against the seller and the holder--for any payment of part of 5
the purchase price made by the purchaser before the purchaser 6
receives notice of the holder's rights mentioned in 7
subsection (2).'. 8
23 Insertion of new s 26A
Clause 9
After section 26-- 10
insert-- 11
`26A Revival of extinguished security interest 12
`(1) This section applies if-- 13
(a) a security interest in a motor vehicle or boat is extinguished 14
under section 26(1); and 15
(b) after the security interest is extinguished, the contract under 16
which the purchaser purchased or putatively purchased an 17
interest in the motor vehicle or boat is rescinded. 18
`(2) On the rescission, the security interest in the motor vehicle or boat is 19
revived and is taken not to have been extinguished by the purchase or 20
putative purchase of an interest in the motor vehicle or boat.'. 21
24 Amendment of s 27 (Purchases to which s 26 does not apply)
Clause 22
(1) Section 27(1), after `motor vehicle'-- 23
insert-- 24
`or boat'. 25
(2) Section 27-- 26
insert-- 27
`(3) Also for section 26, the purchase or putative purchase of an interest 28
in the motor vehicle or boat by the purchaser is taken not to have been 29
made for value and in good faith and without notice of a security interest in 30
the motor vehicle or boat if-- 31
s 25 17 s 25
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
(a) the purchaser is-- 1
(i) a lessor, owner or supplier of motor vehicles or boats who 2
supplies them to anyone else as a user under a facility 3
agreement; or 4
(ii) another person who purchases motor vehicles or boats with 5
the intention of supplying them to others as users under 6
facility agreements; and 7
(b) before the purchaser purchased the interest in the motor vehicle 8
or boat from the seller, the user under a facility agreement for the 9
supply of the motor vehicle or boat-- 10
(i) had negotiated for the supply of the motor vehicle or boat 11
with the seller; and 12
(ii) had notice of an existing security interest in the motor 13
vehicle or boat and has not acted in good faith. 14
`(4) In this section-- 15
"facility agreement" means a lease, hire purchase agreement or other 16
contract for the supply of a motor vehicle or boat. 17
"user" means a lessee, hirer or buyer.'. 18
25 Replacement of s 30 (Compensation for loss etc. by purchaser)
Clause 19
Section 30-- 20
omit, insert-- 21
`30 Effects of incorrect certificate 22
`(1) This section applies if-- 23
(a) a purchaser purchases an interest in a motor vehicle or boat for 24
value and in good faith; and 25
(b) a certificate issued under section 22 for the motor vehicle or 26
boat-- 27
(i) if the interest is purchased at auction--is given to the 28
purchaser by the auctioneer within 48 hours after property 29
in the interest passes to the purchaser; or 30
(ii) if the interest is purchased other than at auction--is 31
obtained by or for the purchaser on the day the interest is 32
purchased, but before the purchase is completed; and 33
s 25 18 s 25
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
(c) the certificate does not contain particulars of a security interest 1
that was registered at the time the certificate was issued; and 2
(d) the purchaser does not, at the time of the purchase, have notice of 3
the security interest as mentioned in section 13(a) or (c)4. 4
`(2) Despite the purchaser having notice of the security interest as 5
mentioned in section 13(b), the security interest in the motor vehicle or 6
boat is extinguished, or taken to have been extinguished, on the issue of the 7
certificate. 8
`(3) If the holder of the security interest extinguished under 9
subsection (2) suffers loss because of the extinguishment, the holder may 10
apply to the accountable officer for compensation. 11
`(4) The accountable officer may make a payment to the person under 12
the Financial Administration and Audit Act 1977, section 106.5 13
`PART 5--GENERAL 14
`30A Arrangements for fees 15
`(1) A person may apply to the chief executive for approval of an 16
arrangement for the payment of fees under this Act. 17
18
Example--
19
An arrangement may be for the payment of fees in advance or in arrears.
`(2) The application must be-- 20
(a) in writing stating the particulars of the proposed arrangement; 21
and 22
(b) accompanied by the prescribed fee. 23
`(3) If the chief executive approves the proposed arrangement, the 24
person may pay fees under this Act in accordance with the arrangement.'. 25
4 Section 13 (Notice of security interest)
5 Financial Administration and Audit Act 1977, section 106 (Losses and special
payments)
s 26 19 s 27
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
26 Amendment of s 39 (Regulations)
Clause 1
(1) Section 39, heading-- 2
omit, insert-- 3
`39 Regulation-making power'. 4
(2) Section 39(2)(a)-- 5
omit. 6
(3) Section 39(2)(b) and (c)-- 7
renumber as section 39(2)(a) and (b). 8
(4) Section 39-- 9
insert-- 10
`(3) The power to make a regulation under this Act to prescribe a fee 11
includes, and is declared to have always included, the power to prescribe 12
fees for the following-- 13
(a) an application to change particulars of a registered security 14
interest entered in the register; 15
(b) an application for correction of an error, omission or failure 16
mentioned in section 19;6 17
(c) an application for approval for a person to hold an account with 18
the chief executive for fees payable by the person under this Act; 19
(d) the inspection of an application made to the chief executive, 20
other than an application mentioned in paragraph (c).'. 21
27 Insertion of new s 40 and pts 6 and 7
Clause 22
After section 39-- 23
insert-- 24
`40 Approved forms 25
`The chief executive may approve forms for use under this Act. 26
6 Section 19 (Correction of errors)
s 27 20 s 27
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
`PART 6--TRANSITIONAL PROVISIONS FOR MOTOR 1
VEHICLES SECURITIES AND OTHER ACTS 2
AMENDMENT ACT 2001 3
`41 Definitions for pt 6 4
`In this part-- 5
"existing security interest" see section 42(1). 6
"holder" see section 42(1). 7
"primary section" see section 42(4). 8
"transferred security interest" see section 42(4)(a). 9
`42 Registration of existing security interest under Bills of Sale and 10
Other Instruments Act 1955 11
`(1) This section applies if, immediately before the commencement of 12
this section, a person ("holder") holds a security interest ("existing 13
security interest"), that is registered under the Bills of Sale Act, in a boat. 14
`(2) Before the end of a period prescribed under a regulation, the holder 15
may apply to the chief executive in the approved form to have the existing 16
security interest, to the extent that it relates to the boat, registered under this 17
Act. 18
`(3) No fee is payable for the application. 19
`(4) On the commencement of section 8 (the "primary section") of the 20
Motor Vehicles Securities and Other Acts Amendment Act 2001, an existing 21
security interest, to the extent that it relates to the boat and for which the 22
chief executive has received an application under subsection (2)-- 23
(a) is taken to be a security interest registered under this Act 24
("transferred security interest") from the time of its 25
registration under the Bills of Sale Act; and 26
(b) ceases to be a registered security interest under the Bills of Sale 27
Act. 28
`(5) Despite subsection (4) and the Bills of Sale Act, section 7, and so 29
that a transferred security interest has the same priority that it had as an 30
existing security interest, the provisions of the Bills of Sale Act that applied 31
immediately before the commencement of the primary section for the 32
s 27 21 s 27
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
purposes of the priority of the existing security interest continue to apply to 1
the transferred security interest after the commencement. 2
`(6) In this section-- 3
"Bills of Sale Act" means the Bills of Sale and Other Instruments Act 4
1955. 5
`43 Chief executive to register transferred security interest 6
`As soon as practicable after the commencement of the primary section, 7
the chief executive must include the particulars of each transferred security 8
interest in the register. 9
`44 Transitional rules for deciding priority of security interests 10
`(1) The provisions of this Act for deciding the priority of existing 11
security interests and the Property Law Act 1974, section 82,7 as those 12
provisions and that section were in force immediately before the 13
commencement, continue to have effect after the commencement for 14
deciding priority as between-- 15
(a) the holders of existing security interests; and 16
(b) the holder of an existing security interest and the holder of a new 17
security interest. 18
`(2) Subsection (1) applies subject to an agreement between the holders. 19
`(3) In this section-- 20
"commencement" means the commencement of this section. 21
"existing security interest" means a security interest in force immediately 22
before the commencement. 23
"new security interest" means a security interest created after the 24
commencement. 25
7 Property Law Act 1974, section 82 (Tacking and further advances)
s 28 22 s 29
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
`PART 7--VALIDATION PROVISION 1
`45 Validation 2
`(1) A regulatory provision as made and as amended from time to time 3
prescribing for a matter mentioned in the provision is taken to be, and 4
always to have been, as validly made as the provision would be, or would 5
have been, if this Act had always authorised the Governor in Council to 6
make a regulation prescribing for the matter in the provision. 7
`(2) In this section-- 8
"matter" includes fee. 9
"regulatory provision" means each of the following provisions of the 10
Motor Vehicles Securities Regulation 1995-- 11
(a) sections 9(3), 11(b) and 12; 12
(b) schedule, items 6, 7, 8 and 12. 13
`(3) This part expires 1 year after it commences.'. 14
PART 3--AMENDMENT OF BILLS OF SALE AND 15
OTHER INSTRUMENTS ACT 1955 16
28 Act amended in pt 3
Clause 17
This part amends the Bills of Sale and Other Instruments Act 1955. 18
29 Replacement of s 7 (Application of pt 2)
Clause 19
Section 7-- 20
omit, insert-- 21
`7 Application of pt 2 22
`This part does not apply to a security interest, whether created before or 23
after the commencement of this section, to the extent that the security 24
interest relates to a motor vehicle or boat as defined under the Motor 25
Vehicles and Boats Securities Act 1986, section 2.'. 26
s 30 23 s 31
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
30 Insertion of new pt 7
Clause 1
After section 56-- 2
insert-- 3
`PART 7--TRANSITIONAL PROVISIONS FOR MOTOR 4
VEHICLES SECURITIES AND OTHER ACTS 5
AMENDMENT ACT 2001 6
`57 Ending of registration of security interest over boat 7
`(1) This section applies if, at the end of the prescribed period, a holder 8
of an existing security interest in a boat as defined in the Motor Vehicles 9
and Boats Securities Act 1986 has not applied to the chief executive to 10
have the interest, to the extent it relates to the boat, registered under the 11
Motor Vehicles and Boats Securities Act 1986. 12
`(2) To the extent the existing security interest relates to the boat-- 13
(a) the existing security interest ceases to be registered under this 14
Act; and 15
(b) part 2 no longer applies to the security interest. 16
`(3) In this section-- 17
"prescribed period" means the period prescribed under a regulation under 18
the Motor Vehicles and Boats Securities Act 1986, section 42(2).8'. 19
PART 4--AMENDMENT OF PROPERTY AGENTS AND 20
MOTOR DEALERS ACT 2000 21
31 Act amended in pt 4
Clause 22
This part amends the Property Agents and Motor Dealers Act 2000. 23
8 Motor Vehicles and Boats Securities Act 1986, section 42 (Registration of existing
security interest under Bills of Sale and Other Instruments Act 1955)
s 32 24 s 32
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
32 Insertion of new ch 7, pt 2, div 7A
Clause 1
After section 230-- 2
insert-- 3
`Division 7A--Sales of used boats 4
`230A Definitions for div 7A 5
`In this division-- 6
"boat" means a ship within the meaning of the Transport Operations 7
(Marine Safety) Act 1994 that is registered under that Act. 8
"boat registration law" means any of the following-- 9
(a) the Transport Operations (Marine Safety) Act 1994; 10
(b) the repealed Queensland Marine Act 1958; 11
(c) a law of another State or a foreign country that corresponds to a 12
law mentioned in paragraph (a) or (b). 13
"disposer" means a collector or dealer under the Second-hand Dealers and 14
Collectors Act 1984. 15
"used boat" means a boat that has, at any time, been licensed or registered 16
under a boat registration law. 17
`230B Sales of used boats 18
`(1) This section applies if a used boat is to be sold by an auctioneer at 19
auction to someone else ("buyer"). 20
`(2) The auctioneer must, within 48 hours after property in the boat 21
passes to the buyer, give the buyer-- 22
(a) a security interest certificate for the boat issued after property in 23
the boat passes; and 24
(b) a notice ("explanatory notice") in the approved form. 25
Maximum penalty--200 penalty units. 26
`(3) If the security interest certificate for the boat shows that a security 27
interest is registered for the boat-- 28
(a) the sale is ineffective from the time it is made; and 29
s 32 25 s 32
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
(b) the responsible person must do everything in the person's power 1
to return the buyer to the position the buyer was in before the 2
boat was purchased including, for example, by paying to the 3
buyer-- 4
(i) the amount the buyer paid for the boat; and 5
(ii) any amount the buyer paid for boat inspection, auctioneer's 6
charges or stamp duty. 7
`(4) An amount payable to the buyer under subsection (3)(b) may be 8
recovered as a debt. 9
`(5) The auctioneer must ask the buyer to sign the acknowledgment of 10
receipt of the security interest certificate included in the explanatory notice. 11
Maximum penalty--200 penalty units. 12
`(6) The auctioneer must-- 13
(a) give the original of the explanatory notice to the buyer; and 14
(b) keep a copy of the explanatory notice; and 15
(c) make the copy available for immediate inspection by an 16
inspector who asks to see it. 17
Maximum penalty--200 penalty units. 18
`(7) The auctioneer may charge the buyer an amount for the provision of 19
the security interest certificate not greater than the amount prescribed under 20
a regulation. 21
`(8) An auctioneer who charges a buyer an amount for providing the 22
security interest certificate that is more than the amount prescribed 23
commits an offence. 24
Maximum penalty--200 penalty units. 25
`(9) A proceeding against an auctioneer for an offence against this 26
section does not affect any civil liability of any person, including the 27
auctioneer or disposer, arising out of the same facts that constitute the 28
offence. 29
`(10) In this section-- 30
"responsible person" means-- 31
(a) if the auctioneer ("seller") owns the boat or is auctioning the 32
boat for someone other than a disposer or another 33
auctioneer--the seller; 34
s 33 26 s 36
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
(b) if the auctioneer ("seller") is auctioning the boat for a disposer 1
or another auctioneer ("other auctioneer")--the disposer or 2
other auctioneer for whom the seller is auctioning the boat.'. 3
33 Amendment of s 471 (Persons who can not claim)
Clause 4
Section 471(2)-- 5
insert-- 6
`(h) a person who suffers financial loss because of, or arising out of, 7
the person's dealings with an auctioneer in relation to the sale of 8
a used boat.'. 9
34 Amendment of sch 3 (Dictionary)
Clause 10
Schedule 3-- 11
insert-- 12
` "boat" for chapter 7, part 2, division 7A, see section 230A. 13
"disposer" for chapter 7, part 2, division 7A, see section 230A. 14
"used boat" for chapter 7, part 2, division 7A, see section 230A.'. 15
PART 5--AMENDMENT OF SECONDHAND DEALERS 16
AND COLLECTORS ACT 1984 17
35 Act amended in pt 5
Clause 18
This part amends the Second-hand Dealers and Collectors Act 1984. 19
36 Amendment of s 6 (Definitions)
Clause 20
Section 6-- 21
insert-- 22
` "boat", for part 3, division 3, see section 48A. 23
s 37 27 s 37
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
"disposer", for part 3, division 3, see section 48A. 1
"security interest certificate", for part 3, division 3, see section 48A.'. 2
37 Insertion of new pt 3, div 3
Clause 3
Part 3-- 4
insert-- 5
`Division 3--Sales of second hand boats, other than by auction 6
`48A Definitions for div 3 7
`In this division-- 8
"boat" means a boat as defined in the Motor Vehicles and Boats Securities 9
Act 1986 that is secondhand goods. 10
"disposer" means a collector or dealer. 11
"security interest certificate" means a security interest certificate issued 12
under the Motor Vehicles and Boats Securities Act 1986, section 22.9 13
`48B Sale of boat by disposer other than by auction 14
`(1) This section applies to the sale of a boat by a disposer, in any way 15
other than at auction, to some one else ("buyer"). 16
`(2) The disposer must not agree to sell the boat to the buyer unless, 17
immediately before the agreement is made, the disposer gives the buyer-- 18
(a) a notice ("explanatory notice") in the approved form; and 19
(b) a security interest certificate for the boat issued on that day ("sale 20
day"). 21
Maximum penalty--200 penalty units. 22
`(3) The disposer must ask the buyer to sign the acknowledgment of 23
receipt of the security interest certificate included in the explanatory notice. 24
Maximum penalty--200 penalty units. 25
`(4) The disposer must-- 26
9 Motor Vehicles and Boats Securities Act 1986, section 22 (Security interest
certificate)
s 37 28 s 37
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
(a) give the original of the explanatory notice to the buyer; and 1
(b) keep a copy of the explanatory notice for the period prescribed 2
under a regulation or, if no period is prescribed, for at least 3
2 years after the original of the notice is given to the buyer; and 4
(c) make the copy available for immediate inspection by an 5
authorised officer who asks to see it. 6
Maximum penalty--200 penalty units. 7
`(5) The disposer may charge the buyer an amount for the provision of 8
the security interest certificate not greater than the amount prescribed under 9
a regulation. 10
`(6) A disposer who charges a buyer an amount for providing the 11
security interest certificate that is more than the amount prescribed 12
commits an offence. 13
Maximum penalty--200 penalty units. 14
`(7) Subsection (8) applies if-- 15
(a) the disposer contravenes subsection (2); and 16
(b) on the sale day a registered security interest existed over the boat. 17
`(8) The buyer may, within a reasonable time not longer than 6 months 18
after becoming aware of the existence of the security interest, rescind the 19
agreement by written notice to the disposer. 20
`(9) If the buyer rescinds the agreement under subsection (8)-- 21
(a) the sale is ineffective from the time it is made; and 22
(b) the disposer must do everything in the disposer's power to return 23
the buyer to the position the buyer was in before the boat was 24
purchased including, for example, by paying to the buyer-- 25
(i) the amount the buyer paid for the boat; and 26
(ii) any amount the buyer paid for boat inspection, registration 27
transfer fees or stamp duty. 28
`(10) An amount payable to the buyer under subsection (9) may be 29
recovered as a debt. 30
`(11) A proceeding against a disposer for an offence against this section 31
does not affect any civil liability of any person, including the disposer, 32
arising out of the same facts that constitute the offence.'. 33
s 38 29 s 38
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
PART 6--OTHER CONSEQUENTIAL AND MINOR 1
AMENDMENTS OF ACTS AND REGULATION 2
38 Amendments
Clause 3
(1) Schedule 1 amends the Acts mentioned in it. 4
(2) Schedule 2 amends the regulation mentioned in it. 5
30
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
SCHEDULE 1 1
CONSEQUENTIAL AND MINOR AMENDMENTS OF 2
ACTS 3
section 38(1) 4
MOTOR VEHICLES SECURITIES ACT 1986 5
1 Sections 5, 5A, 5B, 6, 7, 7AA, 7AB, 7AC and 7A-- 6
renumber as sections 2, 3, 4, 5, 6, 7, 7A, 7B and 7C. 7
2 Section 2, as renumbered, definition "register", `section 6'-- 8
omit, insert-- 9
`section 5'. 10
3 Section 7(1), as renumbered, `section 7'-- 11
omit, insert-- 12
`section 6'. 13
4 Section 7(1), as renumbered, `section 6(2)'-- 14
omit, insert-- 15
`section 5(2)'. 16
31
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
SCHEDULE 1 (continued)
PROPERTY AGENTS AND MOTOR DEALERS ACT 2000 1
1 Schedule 3, definition "security interest certificate", after 2
`Vehicles'-- 3
insert-- 4
`and Boats'. 5
TRANSPORT OPERATIONS (ROAD USE 6
MANAGEMENT) ACT 1995 7
1 Section 135(8), definition "security interest", `Securities' to 8
`5(1)'-- 9
omit, insert-- 10
`and Boats Securities Act 1986, section 2'. 11
32
Motor Vehicles Securities and Other Acts Amendment
Bill 2001
SCHEDULE 2 1
CONSEQUENTIAL AMENDMENT OF REGULATION 2
section 38(2) 3
MOTOR VEHICLES SECURITIES REGULATION 1995 4
1 Section 12-- 5
omit. 6
7
© State of Queensland 2001
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