Victorian Consolidated Legislation

Instruments Act 1958 - SECT 74

Exception in case of vehicles and implements

74. Exception in case of vehicles and implements

     Where any vendor sells to the same purchaser on the same day any stock and also any vehicles usually drawn by horses or bullocks or any agricultural implements and such stock and also such vehicles or implements are included in a mortgage made by the purchaser in favour of the vendor such mortgage may be registered under the provisions of this Part and the provisions other than the next succeeding section of this Part relating to mortgages of stock shall apply to such vehicles or implements as if after the word "stock" there had been inserted the words "vehicles or implements": Provided that such mortgage shall be deemed not to be registered so far as it relates to such vehicles or implements unless it sets forth a descriptionof every such vehicle and implement and the date of the sale and unless such
description and date are at the same time as and in addition to the
particulars contained in the Eighth Schedule registered in the office of the
Registrar-General. In this section vendor includes an auctioneer acting on
behalf of a principal, and vehicles or implements includes vehicles and
implements.