Victorian Consolidated Legislation

Chattel Securities Act 1987 - SECT 27

Offence

27. Offence



(1) A dealer must not supply any goods in the course of a business without
first procuring the discharge of any inventory security interest created by
the dealer in the goods.

Penalty: 25 penalty units.

(2) A dealer must not supply any goods in the course of a business without
first procuring the discharge of-

   (a)  any security interest of which the dealer has notice; and

   (b)  any registered security interest whether or not the dealer has notice
        of the interest; and

   (c)  if the motor car is not registered under the Motor Car Act 1958 or the
        Road Safety Act 1986 but is registered under the law of another State
        or a Territory, any security interest in the motor car registered
        under the provisions of a law of that State or Territory corresponding
        to the provisions of this Act (whether or not those provisions are
        declared under section 3(8) to be a corresponding law of that State or
        Territory for the purposes of this Act).

Penalty: 25 penalty units.

(3) Subsections (1) and (2) do not apply to the extent or in circumstances
prescribed by the regulations.

(4) Subsections (1) and (2) do not apply to the supply of a motor vehicle
within the meaning of the Road Safety Act 1986 by a motor car trader within
the meaning of the Motor Car Traders Act 1986.