Victorian Consolidated Legislation

Chattel Securities Act 1987 - SECT 11

Extinguishing etc. of security interest under corresponding law

11. Extinguishing etc. of security interest under corresponding law



(1) If a security interest over goods situated in another State or in a
Territory is extinguished or loses priority under the provisions of a law of
that State or Territory declared under section 3(8) to be a corresponding law
of that State or Territory for the purposes of this Act, that interest is also
extinguished or loses priority for the purposes of the law of Victoria.

(2) The provisions of subsection (1) are in addition to the provisions of any
other law or rule of law relating to the extinguishing or loss of priority of
security interests.