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CORPORATIONS ACT 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.13 - TRANSITIONAL PROVISIONS RELATING TO THE PERSONAL PROPERTY SECURITIES (CORPORATIONS AND OTHER AMENDMENTS) ACT 2009    View history reference

SECTION 1501A  REFERENCES TO THE WHOLE OR SUBSTANTIALLY THE WHOLE OF A COMPANY'S PROPERTY  

 View history reference

1501A(1)  

This section applies to a transitional security interest within the meaning of the Personal Property Securities Act 2009.

Note: For the meaning of transitional security interest, see section 308 of the Personal Property Securities Act 2009.

1501A(2)  

In working out for the purposes of this Act whether the security interest covers the whole, or substantially the whole, of the company's property at a time (the later time) that is at or after the commencement time, disregard any of the company's property that is PPSA retention of title property of the company at the later time.

Note: This Act gives certain powers to secured parties who hold security interests over the whole, or substantially the whole, of a company's property (for example, the power to appoint an administrator under section 436C).


 



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