Victorian Consolidated Legislation

Chattel Securities Act 1987 - SECT 3

Definitions

3. Definitions



(1) In this Act-

agricultural implement means a vehicle without its own motive power, built to
perform agricultural tasks;

agricultural machine means a machine with its own motive power, built to
perform agricultural tasks;

agricultural tasks includes the cultivation of land, the growing and
harvesting of crops and the rearing of livestock;



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commercial vehicle has the same meaning as in the Credit Act 1984;

Corporation means the Roads Corporation;





corresponding Authority means a person or body declared by Order made under
section 3(8) to be a corresponding Authority;

corresponding law means the provisions of a law of another State or of a
Territory declared to be a corresponding law under section 3(8);

dealer with respect to any goods means a person who carries on a business in
which the person deals in goods of that kind; debtor in relation to a security
interest means the person who created the security interest or against whom
the infringement warrant giving rise to the security interest is issued under
the Infringements Act 2006 and includes-

   (a)  the lessee in relation to a lease of goods; and

   (b)  the hirer in relation to a hire-purchase agreement;

farm machinery has the same meaning as in the Credit Act 1984;

goods includes all chattels personal and fixtures other than-

   (a)  things in action and money; and

   (b)  ships registered in an official register kept under a law in force in
        Victoria relating to title to ships; and

   (c)  aircraft; and

   (d)  livestock, unshorn wool and growing crops; and

   (e)  to the extent of rights expressly conferred on a registered security
        under Part VII or VIII of the Instruments Act 1958-shorn wool and
        harvested crops; and

   (f)  documents of title; hire-purchase agreement has the same meaning as in
        the Fair Trading Act 1999;

hirer means the person to whom goods are let, hired or agreed to be sold under
a hire-purchase agreement and includes a person to whom the hirer's rights or
liabilities under the agreement have passed by assignment or by operation of
law;

interstate registrable goods means goods of a class or category declared by
Order made under section 3(8) to be interstate registrable goods;

inventory security interest means a security interest-

   (a)  given by a dealer in or over goods of a kind in which the dealer deals
        in the course of the dealer's business; or

   (b)  reserved in or over goods in the possession or control of a dealer,
        being goods of a kind in which the dealer deals in the course of the
        dealer's business;

lease means a contract for the hiring of goods or for the grant of a licence
to use goods and a contract for the hiring or bailment of goods for display
purposes but does not include-

   (a)  a hire-purchase agreement; or

   (b)  a contract for the hiring of or for the grant of a licence to use a
        vehicle within the meaning of the Road Safety Act 1986 of which the
        lessor is the registered operator or an applicant for registration as
        the registered operator under that Act or a corresponding Act of the
        Commonwealth or of another State or of a Territory; or

   (c)  a contract for the hiring of or for the grant of a licence to use
        goods under which the lessor does not effectively transfer from the
        lessor to the lessee substantially all the risks and benefits incident
        to ownership of the goods;

lessee in relation to a lease of goods, means the person to whom the goods are
hired under the lease or to whom a licence to use the goods is granted under
the lease;

lessor in relation to a lease of goods, means the person who hires the goods
to another person under the lease or grants to another person under the lease
a licence to use the goods; owner means the person letting, hiring or agreeing
to sell goods under a hire-purchase agreement and includes a person to whom
the owner's property in the goods or any of the owner's rights or liabilities
under the agreement have passed by assignment or operation of law;

prescribed means prescribed by the regulations;

purchase with respect to goods, means acquire an interest in the goods by way
of purchase, exchange, lease or hire-purchase;

purchase price with respect to goods purchased by a purchaser, means the
consideration paid or payable by the purchaser or, if the purchaser is a
lessee under a lease or a hirer under a hire-purchase agreement, the
consideration paid or payable by the lessor or owner;

purchaser means a person who purchases goods but excludes-

   (a)  a secured party not being a lessor, owner or other supplier of the
        goods under a lease, hire-purchase agreement or other contract for the
        supply of goods; and

   (b)  in relation to unregistrable goods, a dealer;

recognised State means a State or Territory of the Commonwealth of Australia
declared by Order made under section 3(8) to be a recognised State;

register means the register kept under Part 3;

registrable goods means goods referred to in section 13;



registered, in relation to a security interest, means registered under section
16 or 16A;

repairer's lien means a lien on goods in the possession of a person as
security for payment for services or materials furnished in respect of those
goods by that person in the ordinary course of business;

secured party means the holder of a security interest and includes the lessor
in relation to a lease of goods and the owner in relation to a hire-purchase
agreement;

security interest means an interest in or a power over goods (whether arising
by or pursuant to an instrument or transaction or arising on the execution of
a warrant issued under the Magistrates' Court Act 1989, an infringement
warrant under the Infringements Act 2006 or a direction under section 116 of
that Act (including a deemed direction under section 114(4) of that Act))
which secures payment of a debt or other pecuniary obligation or the
performance of any other obligation and includes any interest in or power over
goods of a lessor, owner or other supplier of goods;

supply in relation to goods, means dispose of an interest in the goods by way
of sale, exchange, lease or hire-purchase;

Tribunal means Victorian Civil and Administrative Tribunal established by the
Victorian Civil and Administrative Tribunal Act 1998;

unregistrable goods means goods to which Part 3 does not apply;

unregistered security interest means a security interest which is not
registered under Part 3.

(2) This Act applies to a person to whom the rights and obligations of-

   (a)  a secured party; or

   (b)  a debtor-

have passed by operation of law in the same manner as this Act applies to the
person from whom the rights and obligations have passed by operation of law.

(3) For the purposes of this Act, a hirer or lessee of goods or a buyer of
goods under a conditional sale is deemed to have an interest in the goods
notwithstanding that title or general property in the goods has not passed to
the hirer, lessee or buyer.

(4) For the purposes of this Act-

   (a)  a security interest attaches at the time at which value is given by
        the secured party and the debtor has rights in the goods or at such
        later time as the secured party and the debtor intend; and

   (b)  an agreement to which a debtor is party which contains a provision to
        the effect that the debtor takes the goods on lease or hire-purchase
        or creates a security interest over the goods shall be deemed to give
        value to the debtor.

(5) For the purposes of this Act, a person has notice of a security interest
in goods-

   (a)  if the person has actual notice of the security interest; or

   (b)  if the person has been put upon inquiry as to the existence of the
        security interest and has deliberately abstained from inquiry or
        further inquiry when the person might reasonably have expected the
        inquiry or further inquiry to reveal the security interest.

(6) For the purposes of this Act, a person has notice of a security interest
in goods affixed to land if the person would have had, or would have been
deemed to have had, notice of that interest if subsection (5) had not been
enacted.

(7) If an amount, other than the sum of $15 000 but not exceeding the sum of
$50 000, is prescribed by the regulations as the purchase price for the
purposes of section 7, a reference in this Act to $15 000 is a reference to
the prescribed amount.

(8) If the Governor in Council is satisfied that the provisions of a law of
another State or of a Territory correspond to provisions of this Act, the
Governor in Council may by Order in Council published in the Government
Gazette declare that for the purposes of this Act-

   (a)  that State or Territory is a recognised State; and

   (b)  those provisions are a corresponding law; and

   (c)  goods of a class or category specified are interstate registrable
        goods; and

   (d)  that a person or body specified is a corresponding Authority.

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