South Australian Consolidated Acts South Australian Consolidated Acts28—Bills of sale to be void in certain circumstances
(1) Every bill of sale
which has not been registered within the prescribed time, or within any
extended time allowed under this Act, is void, as against—
(a) the
Official Receiver or the trustee in insolvency of the grantor;
(b) the
trustee of the estate of the grantor under any statutory assignment for the
benefit of his or her creditors,
so far as regards the property in or right to the possession of any
personal chattels comprised in the bill of sale which within three months
before the insolvency, or the meeting of creditors at which the resolution for
the assignment was passed, are in the possession, or apparent possession, of
the grantor, and is void as against all sheriff's officers and other persons
seizing any personal chattels comprised in such bill of sale in the execution
of the process of any court against the goods of the grantor, and all judgment
creditors on behalf of whom such process is executed, so far as regards the
property in any such personal chattels as at the time of such seizure are in
the possession or apparent possession of the grantor.
(1a) Until the
expiration of the period allowed for registration, every bill of sale will be
taken to have been registered within that period.
(2) A bill of sale
that constitutes a consumer mortgage within the meaning of the Consumer
Transactions Act 1972 or a goods mortgage to which the Consumer Credit
(South Australia) Code applies, is not rendered void as against any person
under subsection (1) by reason of the fact that it is not registered.
(3) A bill of sale
that constitutes a registered security interest within the meaning of the
Goods Securities Act 1986 , is not rendered void as against any person
under subsection (1) by reason of the fact that it is not registered
under this Act.