Personal Property Securities (Statute Law Revision and Implementation) Act 2010

i Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 TABLE OF PROVISIONS Section Page PART 1—PRELIMINARY 1 1 Purposes 1 2 Commencement 2 PART 2—CHATTEL SECURITIES ACT 1987 3 3 Repeal of Part 1 of the Chattel Securities Act 1987 3 4 Repeal of certain sections of Part 2 of the Chattel Securities Act 1987 3 5 Repeal of Part 3 of the Chattel Securities Act 1987 3 6 Part 4 of the Chattel Securities Act 1987 substituted 3 PART 4—SAVINGS AND TRANSITIONAL PROVISIONS 3 29 Definitions 3 30 Continuation of section 3 4 31 Fixtures 4 32 Delegation powers of the Corporation 5 33 Continuation of the register 5 34 Interstate arrangements 5 35 Pending applications for variation 5 36 Variation of particulars 6 37 Continuation of Corporation's power to correct inaccuracies 6 38 Pending show cause notices 7 39 Certificates 7 40 Corporation may provide information other than by certificate 9 41 Provision of information to PPS Registrar and holder of security interest 9 42 Fees and charges 10 43 Vehicle identification numbers 10 44 Magistrates' Court (Infringements) Act 2000 11 45 Regulations 11 -- 1 of 45 -- Section Page ii PART 3—CO-OPERATIVES ACT 1996 13 Division 1—Repeal and provisional registration 13 7 Repeal 13 8 Provisional registration 13 Division 2—Amendment of the Co-operatives Act 1996 14 9 Excluded matter 14 10 Lodgement of documents not to constitute constructive knowledge 14 11 Application of Corporations Act concerning insolvent co-operatives 14 12 New Division heading inserted 15 13 New Division 2 of Part 19 inserted 15 Division 2—Savings and transitional provisions—Personal Property Securities (Statute Law Revision and Implementation) Act 2010 15 467 Definitions 15 468 Registration of charges 16 469 Certain charges void against liquidator or administrator 16 470 Priority between registrable charges 17 471 Power to rectify register 18 14 New section 472 inserted 18 472 Registrar may seek information as to satisfaction etc. of charges 18 PART 4—INSTRUMENTS ACT 1958 19 15 Repeal 19 16 New Part XV inserted 19 PART XV—SAVINGS AND TRANSITIONAL PROVISIONS—PERSONAL PROPERTY SECURITIES (STATUTE LAW REVISION AND IMPLEMENTATION) ACT 2010 19 Division 1—Definitions 19 141 Definitions 19 Division 2—Liens on Crops 20 142 Effect of repeal on existing liens 20 Division 3—Liens on wool and mortgages of stock 21 143 Effect of repeal on existing liens 21 144 Effect of repeal on existing mortgages 22 -- 2 of 45 -- Section Page iii PART 5—PROVISION OF INFORMATION 24 17 Definitions 24 18 Provision of information for the purposes of the Personal Property Securities Act 2009 of the Commonwealth—Chattel Securities Act 1987 24 19 Provision of information for the purposes of the Personal Property Securities Act 2009 of the Commonwealth— Instruments Act 1958 25 20 Provision of information for the purposes of the Personal Property Securities Act 2009 of the Commonwealth— Co-operatives Act 1996 26 21 Immunity 26 PART 6—RIGHTS, LICENCES AND AUTHORITIES EXCLUDED FROM THE OPERATION OF THE PERSONAL PROPERTY SECURITIES ACT 2009 OF THE COMMONWEALTH 28 22 Casino Control Act 1991 28 13A Licence not personal property 28 23 Electricity Industry Act 2000 28 24 Fisheries Act 1995 29 11C Licence, approval and quota not personal property 29 25 Gambling Regulation Act 2003 29 3.4.46A Monitoring licence not personal property 29 4.3A.8A Wagering and betting licence not personal property 29 6A.3.8A Keno licence not personal property 30 3.4A.5A Gaming machine entitlement not personal property 30 26 Gas Industry Act 2001 30 27 Geothermal Energy Resources Act 2005 31 Division 7—Nature of authorities 31 78A Authorities not personal property 31 28 Mineral Resources (Sustainable Development) Act 1990 31 29 National Electricity (Victoria) Act 2005 32 11 Personal Property Securities 32 30 Petroleum Act 1998 32 127A Authorities not personal property 32 31 Petroleum (Submerged Lands) Act 1982 33 32 Racing Act 1958 34 -- 3 of 45 -- Section Page iv PART 7—PRIORITY BETWEEN SECURITY INTERESTS AND CERTAIN STATUTORY INTERESTS 35 33 Infringements Act 2006 35 34 Marine Act 1988 35 35 Port Services Act 1995 36 36 Road Safety Act 1986 36 PART 8—CONSEQUENTIAL AMENDMENTS 37 37 Consequential amendments 37 PART 9—REPEAL OF AMENDING PARTS 38 38 Repeal 38 __________________ SCHEDULE 39 1 Confiscation Act 1997 39 2 Infringements Act 2006 39 3 Motor Car Traders Act 1986 39 4 Road Safety Act 1986 40 5 Victorian Civil and Administrative Tribunal Act 1998 40 ═══════════════ ENDNOTES 41 -- 4 of 45 -- 1 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 † No. 74 of 2010 [Assented to 19 October 2010] The Parliament of Victoria enacts: PART 1—PRELIMINARY 1 Purposes The purposes of this Act are to revise the statute law of Victoria as a consequence of the enactment of the Personal Property Securities (Commonwealth Powers) Act 2009 and to provide for the implementation of that Act. Victoria -- 5 of 45 -- Part 1—Preliminary Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 2 2 Commencement (1) Parts 1 and 5 of this Act come into operation on the day after the day on which this Act receives the Royal Assent. (2) Subject to subsection (3), the remaining provisions of this Act come into operation on a day or days to be proclaimed. (3) If a provision of this Act does not come into operation before 1 December 2011, it comes into operation on that day. __________________ s. 2 -- 6 of 45 -- Part 2—Chattel Securities Act 1987 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 3 PART 2—CHATTEL SECURITIES ACT 1987 3 Repeal of Part 1 of the Chattel Securities Act 1987 Part 1 of the Chattel Securities Act 1987 is repealed. 4 Repeal of certain sections of Part 2 of the Chattel Securities Act 1987 Sections 4, 5, 7, 8, 9, 10, 11 and 12 of the Chattel Securities Act 1987 are repealed. 5 Repeal of Part 3 of the Chattel Securities Act 1987 Part 3 of the Chattel Securities Act 1987 is repealed. 6 Part 4 of the Chattel Securities Act 1987 substituted For Part 4 of the Chattel Securities Act 1987 substitute— "__________________ PART 4—SAVINGS AND TRANSITIONAL PROVISIONS 29 Definitions In this Part— 2010 Act means the Personal Property Securities (Statute Law Revision and Implementation) Act 2010; See: Act No. 15/1987. Reprint No. 3 as at 10 May 2007 and amending Act Nos 74/2007 and 2/2008. LawToday: www. legislation. vic.gov.au s. 3 -- 7 of 45 -- Part 2—Chattel Securities Act 1987 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 4 Commonwealth PPS Act means the Personal Property Securities Act 2009 of the Commonwealth; continued register means any information kept by the Corporation under section 33; PPS Registrar means the Registrar of Personal Property Securities appointed under the Commonwealth PPS Act. 30 Continuation of section 3 (1) Despite the commencement of section 3 of the 2010 Act, section 3(1) of this Act, as in force immediately before that commencement, is taken to continue in effect to the extent necessary for this Part. (2) Despite the commencement of section 3 of the 2010 Act, section 3(2), (4), (5), (6), (7) and (8) of this Act as in force immediately before that commencement are taken to continue in effect to the extent necessary for section 6 of this Act. 31 Fixtures Despite the commencement of section 4 of the 2010 Act, the following provisions of this Act, as in force immediately before that commencement, are taken to continue in effect to the extent necessary for section 6— (a) section 4; and (b) section 7(1), (1A), (1B), (3), (4), (5), (6), (7), (8) and (9); and (c) section 8; and (d) section 9; and s. 6 -- 8 of 45 -- Part 2—Chattel Securities Act 1987 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 5 (e) section 10; and (f) section 11. 32 Delegation powers of the Corporation Despite the commencement of section 5 of the 2010 Act, section 14 as in force immediately before that commencement is taken to continue in effect to the extent necessary for the operation of section 33. 33 Continuation of the register Despite the commencement of section 5 of the 2010 Act, in relation to the register kept under section 15 as in force immediately before that commencement, the Corporation may continue to keep, in whole or in part, the information that was in that register immediately before that commencement. 34 Interstate arrangements An arrangement with a corresponding Authority entered into under section 15A as in force before the commencement of section 5 of the 2010 Act, being an arrangement as in force immediately before that commencement, is taken to continue in force on and after that commencement in relation to matters occurring before that commencement. 35 Pending applications for variation Despite the commencement of section 5 of the 2010 Act, the Corporation may vary the particulars of a security interest in the continued register and note in the continued register the date on which, and time at which, those particulars are varied if— s. 6 -- 9 of 45 -- Part 2—Chattel Securities Act 1987 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 6 (a) there is a change in the particulars of that security interest (other than by reason that the security interest is discharged or extinguished); and (b) the secured party makes an application under section 21 for the variation of those particulars before that commencement; and (c) those particulars are not varied in accordance with the application before that commencement. 36 Variation of particulars Despite the commencement of section 5 of the 2010 Act, if a prescribed change occurs in the particulars of a security interest in an entry to the register before that commencement and the particulars are not varied under section 22 before that commencement, the Corporation may— (a) vary those particulars in the continued register to reflect the prescribed change; and (b) note in the continued register the date on which, and the time at which, the particulars are varied. 37 Continuation of Corporation's power to correct inaccuracies (1) Despite the commencement of section 5 of the 2010 Act, if the Corporation considers that there is an inaccuracy in the information in the continued register relating to a security interest in respect of goods, the Corporation may by notice in writing require the holder of the security interest in those goods to advise the Corporation in writing within the period specified in the notice as to whether s. 6 -- 10 of 45 -- Part 2—Chattel Securities Act 1987 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 7 the information in the continued register should be varied as specified in the notice. (2) If the holder of the security interest fails to advise or inadequately advises the Corporation in writing within the period specified in the notice, the Corporation may upon the expiry of that period vary the information in the continued register as specified in the notice. 38 Pending show cause notices Despite the commencement of section 5 of the 2010 Act, the Corporation may, if— (a) a show cause notice under section 23(1) was given to a person before that commencement; and (b) the period specified in the notice within which the person must show cause ends after that commencement; and (c) the person fails to show cause as required by the notice within the period specified in the notice— remove the particulars of the security interest to which the notice relates from the continued register. 39 Certificates (1) Despite the commencement of section 5 of the 2010 Act, a person may apply to the Corporation for a certificate containing particulars of information contained in the continued register in respect of specified goods or, if there is no information in the continued register in respect of those goods, a certificate containing a statement to that effect. s. 6 -- 11 of 45 -- Part 2—Chattel Securities Act 1987 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 8 (2) In addition to the information referred to in subsection (1), the Corporation may provide with a certificate any other information relating to— (a) goods whether or not there is any information in the continued register (including information about security interests in respect of those goods); or (b) goods which a member of the police force has advised the Corporation have been reported to a member of the police force as being stolen or otherwise illegally obtained; or (c) goods which are specified in a notice served under section 84W(1) or 84Y(1) of the Road Safety Act 1986— being information provided in writing to the Corporation for the purposes of this subsection or for the purposes of section 24(2) as in force immediately before the commencement of section 5 of the 2010 Act. (3) Despite the commencement of section 5 of the 2010 Act, neither the Corporation nor any other person incurs any liability in respect of a certificate issued under subsection (1) or information provided under subsection (2) if— (a) the certificate or information contains or is accompanied by a disclaimer that the certificate or information is provided without liability and without any responsibility for the accuracy of the certificate or information; and (b) the certificate or information is provided in good faith. s. 6 -- 12 of 45 -- Part 2—Chattel Securities Act 1987 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 9 (4) The applicant for a certificate under subsection (1) must pay the prescribed fee, if any. 40 Corporation may provide information other than by certificate Despite the commencement of section 5 of the 2010 Act, the Corporation may, on the payment of the prescribed fee (if any) provide information of the type referred to in section 39(1) and (2) to a person without providing a certificate under section 39 in the approved form. 41 Provision of information to PPS Registrar and holder of security interest (1) The Corporation may, if it varies particulars of a security interest or information in the continued register under section 35, 36 or 37(2) provide the PPS Registrar with written notice of— (a) the variation of the particulars or information in the continued register; and (b) details of the varied particulars or information. (2) The Corporation may, if it removes the particulars of a security interest from the continued register under section 38, provide the PPS Registrar with written notice of— (a) the removal of the particulars from the continued register; and (b) details of the removed particulars. (3) If the Corporation removes the particulars of a security interest from the continued register under section 38, the Corporation must give written notice to the holder of that security s. 6 -- 13 of 45 -- Part 2—Chattel Securities Act 1987 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 10 interest that the particulars of the security interest have been varied or removed in the continued register. 42 Fees and charges Despite the commencement of section 5 of the 2010 Act, the Corporation after that commencement may recover a fee or charge— (a) incurred under Part 3 before that commencement; or (b) for varying the particulars of a security interest under section 22(2) (as in force before that commencement) or under section 36 to reflect a prescribed change that occurred before that commencement— if the fee or charge is unpaid immediately before that commencement. 43 Vehicle identification numbers Despite the commencement of section 6 of the 2010 Act, the Corporation may deal with a request made by the Corporation under section 31, as in force immediately before that commencement, if— (a) the Corporation made the request before that commencement; and (b) the request was not complied with before that commencement— as if the power of the Corporation under section 31, as in force immediately before that commencement, to request vehicle identification numbers continues in effect. s. 6 -- 14 of 45 -- Part 2—Chattel Securities Act 1987 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 11 44 Magistrates' Court (Infringements) Act 2000 Despite the commencement of section 6 of the 2010 Act, section 32 as in force immediately before that commencement is taken to continue in effect to the extent necessary for this Act. 45 Regulations (1) The Governor in Council may make regulations for or with respect to prescribing any matter or thing which is authorised or required to be prescribed for carrying out or giving effect to this Part. (2) Without limiting subsection (1), regulations may— (a) prescribe changes for the purposes of section 36; and (b) provide for the payment of fees including— (i) the matters for which fees are payable; and (ii) the amount of the fees; and (iii) the persons by whom the fees are payable. (3) A power conferred by this Act to make regulations providing for the imposition of fees may be exercised by providing for all or any of the following matters— (a) specific fees; (b) maximum or minimum fees; (c) maximum and minimum fees; (d) ad valorem fees; s. 6 -- 15 of 45 -- Part 2—Chattel Securities Act 1987 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 12 (e) the payment of fees either generally or under specified conditions or in specified circumstances; (f) the reduction, waiver or refund, in whole or in part, of the fees. (4) If under subsection (3)(f) regulations provide for a reduction, waiver or refund, in whole or in part, of a fee, the reduction, waiver or refund may be expressed to apply either generally or specifically— (a) in respect of certain matters or transactions or classes of matters or transactions; or (b) in respect of certain documents or classes of documents; or (c) when an event happens; or (d) in respect of certain persons or classes of persons; or (e) in respect of any combination of such matters, transactions, documents, events or persons; or (f) subject to specified conditions or in the discretion of any specified person or body. (5) The regulations— (a) may be of general or specifically limited application; and (b) may differ according to differences in time, place or circumstances.". __________________ s. 6 -- 16 of 45 -- Part 3—Co-operatives Act 1996 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 13 PART 3—CO-OPERATIVES ACT 1996 Division 1—Repeal and provisional registration 7 Repeal (1) Division 2 of Part 10 of the Co-operatives Act 1996 is repealed. (2) Schedule 3 to the Co-operatives Act 1996 is repealed. 8 Provisional registration (1) If, before the commencement time, a defective notice in respect of a charge is lodged with the Registrar under clause 19 of Schedule 3 to the Co-operatives Act 1996, clause 21(2) of that Schedule does not apply if the Registrar considers that there is insufficient time between the day on which the notice is lodged and the commencement time for— (a) the defect to be rectified; or (b) notice under that subclause to be given. (2) In this section— charge has the same meaning as it has in Schedule 3 to the Co-operatives Act 1996; commencement time means the commencement of section 7; s. 7 See: Act No. 84/1996. Reprint No. 3 as at 9 November 2006 and amending Act Nos 13/2008, 68/2008 and 1/2010. LawToday: www. legislation. vic.gov.au -- 17 of 45 -- Part 3—Co-operatives Act 1996 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 14 defective notice has the same meaning as it has in Schedule 3 to the Co-operatives Act 1996; Registrar has the same meaning as it has in the Co-operatives Act 1996. Division 2—Amendment of the Co-operatives Act 1996 9 Excluded matter In section 9(2) of the Co-operatives Act 1996— (a) in paragraph (l)(ii) for "Act; or" substitute "Act."; (b) paragraph (m) is repealed. 10 Lodgement of documents not to constitute constructive knowledge Section 46(2) of the Co-operatives Act 1996 is repealed. 11 Application of Corporations Act concerning insolvent co-operatives (1) In section 338 of the Co-operatives Act 1996, for "A co-operative is declared" substitute "Subject to subsection (2), a co-operative is declared". (2) At the end of section 338 of the Co-operatives Act 1996 insert— "(2) If the Registrar gives a certificate under section 315 for the winding up of a co-operative, a co-operative is declared to be an applied Corporations legislation matter for the purposes of Part 3 of the Corporations (Ancillary Provisions) Act 2001 in relation to sections 588FL and 588FM of the Corporations Act, subject to the following modifications— (a) those sections are to be read as if a co-operative were a company; and s. 9 -- 18 of 45 -- Part 3—Co-operatives Act 1996 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 15 (b) any other modifications (within the meaning of Part 3 of the Corporations (Ancillary Provisions) Act 2001) that are prescribed by the regulations.". 12 New Division heading inserted After the heading to Part 19 of the Co-operatives Act 1996 insert— "Division 1—General". 13 New Division 2 of Part 19 inserted After section 466 of the Co-operatives Act 1996 insert— "Division 2—Savings and transitional provisions—Personal Property Securities (Statute Law Revision and Implementation) Act 2010 467 Definitions In this Division— 2010 Act means the Personal Property Securities (Statute Law Revision and Implementation) Act 2010; current registrable charge means a charge that was created before the commencement time that was a registrable charge within the meaning of clause 1 of Schedule 3, as in force before that commencement, when it was created; commencement time means the commencement of section 7 of the 2010 Act. s. 12 -- 19 of 45 -- Part 3—Co-operatives Act 1996 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 16 468 Registration of charges (1) Despite the commencement of section 7 of the 2010 Act— (a) the Registrar must continue to keep in the form of the Register, the information contained in the Register immediately before that commencement for a period of 7 years after that commencement; and (b) a person's right (under section 435) to search the Register is taken to continue to apply to the information kept under paragraph (a) for a period of 7 years after that commencement; and (c) clause 42 of Schedule 3, as in force immediately before that commencement, is taken to continue to apply in relation to information kept under paragraph (a), for a period of 7 years after that commencement. (2) In this section, Register means the Register of Co-operative Charges referred to in clause 18 of Schedule 3 as in force immediately before the commencement of section 7 of the 2010 Act. 469 Certain charges void against liquidator or administrator (1) Subject to this section, if a current registrable charge is void under clause 27 or 28 of Schedule 3 immediately before the commencement time, that Division (other than clause 29) is taken to continue to apply in relation to the charge. s. 13 -- 20 of 45 -- Part 3—Co-operatives Act 1996 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 17 (2) The Supreme Court may, on such terms and conditions as seem to the Court just and expedient, by order, declare a current registrable charge not to be, and never to have been, void under clause 27 or 28 of that Schedule, if— (a) before the commencement time, the charge is void under clause 27 or 28; and (b) either— (i) an application is, immediately before the commencement time, in force under clause 29 of Schedule 3 for an extension of the required period, and as at the commencement time, the Court had not made a decision in relation to the application; or (ii) an application is made to the Court on or after the commencement time for an order under this section; and (c) the Court is satisfied of the matters set out in clause 29 of Schedule 3 as in force immediately before the commencement time. 470 Priority between registrable charges Subject to Chapter 9 of the Personal Property Securities Act 2009 of the Commonwealth, on and after the commencement time, current registrable charges have the priority between themselves that they would have had under this Act as in force immediately before the commencement time. s. 13 -- 21 of 45 -- Part 3—Co-operatives Act 1996 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 18 471 Power to rectify register Despite the commencement of section 7 of the 2010 Act, clause 43 of Schedule 3, as in force immediately before that commencement continues to apply to current registrable charges as if a reference in that clause to registrable charge were a reference to current registrable charge, and a reference to Register were a reference to the information to be kept under section 468.". 14 New section 472 inserted At the end of Part 19 of the Co-operatives Act 1996 insert— "472 Registrar may seek information as to satisfaction etc. of charges (1) The Registrar may, at any time, seek information from a person who, immediately before the commencement time, was the holder of a charge registered under Part 2 of Schedule 3 as to whether the debt or other liability the payment or discharge of which was secured by the charge has been paid or discharged in whole or in part or the property charged or part of that property has been released from the charge. (2) The Registrar— (a) may require the information sought under subsection (1) to be provided on or before a date specified by the Registrar; and (b) may amend the register on the basis of any information provided to the Registrar under subsection (2).". __________________ s. 14 -- 22 of 45 -- Part 4—Instruments Act 1958 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 19 PART 4—INSTRUMENTS ACT 1958 15 Repeal (1) Part VII of the Instruments Act 1958 is repealed. (2) The Sixth Schedule to the Instruments Act 1958 is repealed. (3) Part VIII of the Instruments Act 1958 is repealed. (4) The Seventh Schedule to the Instruments Act 1958 is repealed. (5) The Eighth Schedule to the Instruments Act 1958 is repealed. 16 New Part XV inserted After Part XIV of the Instruments Act 1958 insert— 'PART XV—SAVINGS AND TRANSITIONAL PROVISIONS—PERSONAL PROPERTY SECURITIES (STATUTE LAW REVISION AND IMPLEMENTATION) ACT 2010 Division 1—Definitions 141 Definitions In this Part— 2010 Act means the Personal Property Securities (Statute Law Revision and Implementation) Act 2010; commencement time means the commencement of section 15 of the 2010 Act; s. 15 See: Act No. 6279. Reprint No. 11 as at 9 March 2009 and amending Act Nos 78/2008 and 69/2009. LawToday: www. legislation. vic.gov.au -- 23 of 45 -- Part 4—Instruments Act 1958 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 20 current crop lien means an agreement to which section 61 applies that, immediately before the commencement time, was registered in accordance with that section; current stock mortgage means a mortgage to which section 72 applies that, immediately before the commencement time, was registered in accordance with that section; current wool lien means an agreement to which section 70 applies that, immediately before the commencement time, was registered in accordance with that section; Registrar of Personal Property Securities has the same meaning as it has in the Personal Property Securities Act 2009 of the Commonwealth. Division 2—Liens on Crops 142 Effect of repeal on existing liens (1) Despite the commencement of section 15 of the 2010 Act, the provisions of Part VII of the Instruments Act 1958 (other than the part of section 62 beginning with the words "After such agreement as aforesaid" and ending with the words "as against the original proprietor thereof who granted such lien."), as in force immediately before that commencement, are taken to continue to apply to a current crop lien until, in accordance with section 66— s. 16 -- 24 of 45 -- Part 4—Instruments Act 1958 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 21 (a) the lien is removed from the records of the Registrar-General; or (b) satisfaction of the lien is entered on the records of the Registrar-General— whichever occurs first. Note Chapter 9 of the Personal Property Securities Act 2009 of the Commonwealth provides for transitional arrangements for liens on crops relating to the priority of these interests. (2) An agreement executed before the commencement time that has not been (but could have been) registered in the office of the Registrar-General in accordance with section 61 immediately before the commencement time is taken to have effect as an agreement to which that section applies immediately before that time. Division 3—Liens on wool and mortgages of stock 143 Effect of repeal on existing liens Despite the commencement of section 15 of the 2010 Act, the provisions of Part VIII of the Instruments Act 1958 (other than section 71), as in force immediately before that commencement, are taken to continue to apply to a current wool lien until, in accordance with section 79— (a) the lien is removed from the records of the Registrar-General; or s. 16 -- 25 of 45 -- Part 4—Instruments Act 1958 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 22 (b) satisfaction of the lien is entered on the records of the Registrar-General— whichever occurs first. Note Chapter 9 of the Personal Property Securities Act 2009 of the Commonwealth provides for transitional arrangements for liens on wool relating to the priority of these interests. (2) An agreement executed before the commencement time that has not been (but could have been) registered in the office of the Registrar-General in accordance with section 70 immediately before the commencement time is taken to have effect as an agreement to which that section applies immediately before that time. 144 Effect of repeal on existing mortgages (1) Despite the commencement of section 15 of the 2010 Act, the provisions of Part VIII of the Instruments Act 1958 (other than section 76), as in force immediately before that commencement, are taken to continue to apply to a current stock mortgage until the amount due or secured by the mortgage is paid or satisfied to the person entitled to receive or give a discharge for the mortgage. Note Chapter 9 of the Personal Property Securities Act 2009 of the Commonwealth provides for transitional arrangements for stock mortgages. An amendment demand under Part 5.6 of the Personal Property Securities Act 2009 of the Commonwealth may be used to cause a migrated stock mortgage that has been discharged to be removed from the Personal Property Securities Register. s. 16 -- 26 of 45 -- Part 4—Instruments Act 1958 Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 23 (2) If a registered stock mortgage becomes a migrated security interest within the meaning of the Personal Property Securities Act 2009 of the Commonwealth, the date (if any) recorded in the Personal Property Securities Register established under Chapter 5 of that Act as the date on which the interest was originally registered is, in the absence of evidence to the contrary, taken to be the date on which the interest was originally registered under this Act. (3) An agreement executed before the commencement time that has not been (but could have been) registered in the office of the Registrar-General in accordance with section 72 immediately before the commencement time is taken to have effect as an agreement to which that section applies immediately before that time. __________________". __________________ s. 16 -- 27 of 45 -- Part 5—Provision of Information Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 24 PART 5—PROVISION OF INFORMATION 17 Definitions In this Part— corresponding Authority has the same meaning as it has in the Chattel Securities Act 1987 as in force immediately before the commencement of section 3 of this Act; interstate registrable goods has the same meaning as it has in the Chattel Securities Act 1987 as in force immediately before the commencement of section 3 of this Act; Registrar has the same meaning as it has in the Co-operatives Act 1996; Registrar of Personal Property Securities has the same meaning as it has in the Personal Property Securities Act 2009 of the Commonwealth; Registrar-General has the same meaning as it has in the Instruments Act 1958; Corporation has the same meaning as it has in the Chattel Securities Act 1987 as in force immediately before the commencement of section 3 of this Act. 18 Provision of information for the purposes of the Personal Property Securities Act 2009 of the Commonwealth—Chattel Securities Act 1987 (1) The Corporation may provide, or cause to be provided, to the Registrar of Personal Property Securities or to any person employed in the administration of the Personal Property Securities Act 2009 of the Commonwealth, any information contained in the records of the Corporation under Part 3 of the Chattel Securities Act 1987 that is s. 17 -- 28 of 45 -- Part 5—Provision of Information Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 25 necessary to give effect to the Personal Property Securities Act 2009 of the Commonwealth, including to assist in the establishment of the Personal Property Securities Register. (2) The information may be provided— (a) before, on or after the commencement of section 5; and (b) in any form the Corporation considers appropriate. (3) Under subsection (1), the Corporation may disclose particulars or information relating to a security interest in interstate registrable goods only if— (a) the Corporation held the particulars or information under an arrangement under section 15A of the Chattel Securities Act 1987 as in force before the commencement of section 5 with a corresponding Authority; and (b) that corresponding Authority has requested the Corporation to disclose the particulars or information. 19 Provision of information for the purposes of the Personal Property Securities Act 2009 of the Commonwealth—Instruments Act 1958 (1) The Registrar-General may provide, or cause to be provided, to the Registrar of Personal Property Securities or to any person employed in the administration of the Personal Property Securities Act 2009 of the Commonwealth, any information contained in the records of the Registrar-General's office under Part VII or VIII of the Instruments Act 1958 that is necessary to give effect to the Personal Property Securities Act 2009 of the Commonwealth, including to assist in the s. 19 -- 29 of 45 -- Part 5—Provision of Information Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 26 establishment of the Personal Property Securities Register. (2) The information may be provided— (a) before, on or after the commencement of section 15; and (b) in any form the Registrar-General considers necessary. 20 Provision of information for the purposes of the Personal Property Securities Act 2009 of the Commonwealth—Co-operatives Act 1996 (1) The Registrar may provide, or may cause to be provided, to the Registrar of Personal Property Securities or to any person employed in the administration of the Personal Property Securities Act 2009 of the Commonwealth, any information contained in the records of the Registrar under the Co-operatives Act 1996 that is necessary to give effect to the Personal Property Securities Act 2009 of the Commonwealth, including to assist in the establishment of the Personal Property Securities Register. (2) The information may be provided— (a) before, on or after the commencement of section 7; and (b) in any form the Registrar considers necessary. 21 Immunity The State or the Corporation, or an officer, employee or agent of the State or the Corporation, is not liable for anything done or omitted to be done in good faith by the State, the Corporation or the officer, employee or agent— s. 20 -- 30 of 45 -- Part 5—Provision of Information Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 27 (a) in the exercise of a power or the discharge of a duty under section 18, 19 or 20 of this Act or section 41 of the Chattel Securities Act 1987; or (b) in the reasonable belief that the act or omission was in the exercise of a power or the discharge of a duty under section 18, 19 or 20 of this Act or section 41 of the Chattel Securities Act 1987. __________________ s. 21 -- 31 of 45 -- Part 6—Rights, Licences and Authorities Excluded from the Operation of the Personal Property Securities Act 2009 of the Commonwealth Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 28 PART 6—RIGHTS, LICENCES AND AUTHORITIES EXCLUDED FROM THE OPERATION OF THE PERSONAL PROPERTY SECURITIES ACT 2009 OF THE COMMONWEALTH 22 Casino Control Act 1991 After section 13 of the Casino Control Act 1991 insert— "13A Licence not personal property For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a licence is declared not to be personal property.". 23 Electricity Industry Act 2000 At the end of section 20 of the Electricity Industry Act 2000 insert— "(4) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a licence is declared not to be personal property.". See: Act No. 47/1991. Reprint No. 7 as at 5 April 2006 and amending Act Nos 24/2006, 79/2006, 22/2007, 72/2007, 71/2008, 3/2009, 29/2009, 68/2009 and 84/2009. LawToday: www. legislation. vic.gov.au s. 22 See: Act No. 68/2000. Reprint No. 5 as at 1 July 2009 and amending Act Nos 41/2009, 57/2009, 68/2009, 72/2009 and 6/2010. LawToday: www. legislation. vic.gov.au -- 32 of 45 -- Part 6—Rights, Licences and Authorities Excluded from the Operation of the Personal Property Securities Act 2009 of the Commonwealth Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 29 24 Fisheries Act 1995 After section 11B of the Fisheries Act 1995 insert— "11C Licence, approval and quota not personal property For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a licence, approval of transfer or individual quota, granted or allocated under this Act, is declared not to be personal property.". 25 Gambling Regulation Act 2003 (1) After section 3.4.46 of the Gambling Regulation Act 2003 insert— "3.4.46A Monitoring licence not personal property For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a monitoring licence is declared not to be personal property.". (2) After section 4.3A.8 of the Gambling Regulation Act 2003 insert— "4.3A.8A Wagering and betting licence not personal property For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a wagering and betting licence is declared not to be personal property.". See: Act No. 92/1995. Reprint No. 6 as at 20 August 2009 and amending Act Nos 87/2005, 68/2009, 69/2009 and 7/2010. LawToday: www. legislation. vic.gov.au See: Act No. 114/2003. Reprint No. 3 as at 6 August 2009 and amending Act Nos 72/2007, 71/2008, 25/2009, 29/2009, 52/2009, 58/2009, 59/2009, 63/2009, 68/2009, 69/2009, 1/2010 and 30/2010. LawToday: www. legislation. vic.gov.au s. 24 -- 33 of 45 -- Part 6—Rights, Licences and Authorities Excluded from the Operation of the Personal Property Securities Act 2009 of the Commonwealth Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 30 (3) After section 6A.3.8 of the Gambling Regulation Act 2003 insert— "6A.3.8A Keno licence not personal property For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a keno licence is declared not to be personal property.". (4) Before section 3.4A.6 of the Gambling Regulation Act 2003 insert— "3.4A.5B Gaming machine entitlement not personal property For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a gaming machine entitlement is declared not to be personal property.". 26 Gas Industry Act 2001 At the end of section 28 of the Gas Industry Act 2001 insert— "(4) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a licence is declared not to be personal property.". See: Act No. 31/2001. Reprint No. 4 as at 1 July 2009 and amending Act Nos 57/2009, 68/2009 and 10/2010. LawToday: www. legislation. vic.gov.au s. 26 -- 34 of 45 -- Part 6—Rights, Licences and Authorities Excluded from the Operation of the Personal Property Securities Act 2009 of the Commonwealth Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 31 27 Geothermal Energy Resources Act 2005 At the end of Part 6 of the Geothermal Energy Resources Act 2005 insert— "Division 7—Nature of authorities 78A Authorities not personal property For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, an authority is declared not to be personal property.". 28 Mineral Resources (Sustainable Development) Act 1990 (1) At the end of section 13 of the Mineral Resources (Sustainable Development) Act 1990 insert— "(5) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, an exploration licence is declared not to be personal property.". (2) At the end of section 14 of the Mineral Resources (Sustainable Development) Act 1990 insert— "(7) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a mining licence is declared not to be personal property.". (3) After section 26AF(4) of the Mineral Resources (Sustainable Development) Act 1990 insert— "(5) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a licence granted under this section is declared not to be personal property.". See: Act No. 7/2005. Reprint No. 1 as at 31 July 2008 and amending Act Nos 4/2008 and 10/2010. LawToday: www. legislation. vic.gov.au s. 27 See: Act No. 92/1990. Reprint No. 7 as at 9 February 2007 and amending Act Nos 16/2006, 63/2006, 25/2008, 54/2008, 6/2009, 57/2009, 69/2009, 82/2009 and 90/2009. LawToday: www. legislation. vic.gov.au -- 35 of 45 -- Part 6—Rights, Licences and Authorities Excluded from the Operation of the Personal Property Securities Act 2009 of the Commonwealth Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 32 (4) After section 26AM(5) of the Mineral Resources (Sustainable Development) Act 1990 insert— "(6) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a licence granted under this section is declared not to be personal property.". 29 National Electricity (Victoria) Act 2005 After section 10 of the National Electricity (Victoria) Act 2005 insert— "11 Personal Property Securities For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, registration under the National Electricity (Victoria) Law is declared not to be personal property.". 30 Petroleum Act 1998 At the end of Part 7 of the Petroleum Act 1998 insert— "127A Authorities not personal property For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, an authority is declared not to be personal property.". See: Act No. 8/2005. Reprint No. 1 as at 20 May 2010. LawToday: www. legislation. vic.gov.au s. 29 See: Act No. 96/1998. Reprint No. 1 as at 18 September 2007 and amending Act Nos 25/2008, 57/2009 and 10/2010. LawToday: www. legislation. vic.gov.au -- 36 of 45 -- Part 6—Rights, Licences and Authorities Excluded from the Operation of the Personal Property Securities Act 2009 of the Commonwealth Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 33 31 Petroleum (Submerged Lands) Act 1982 (1) At the end of section 28 of the Petroleum (Submerged Lands) Act 1982 insert— "(2) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a permit is declared not to be personal property.". (2) At the end of section 38C of the Petroleum (Submerged Lands) Act 1982 insert— "(2) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a lease is declared not to be personal property.". (3) At the end of section 52 of the Petroleum (Submerged Lands) Act 1982 insert— "(2) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a licence is declared not to be personal property.". (4) At the end of section 59F of the Petroleum (Submerged Lands) Act 1982 insert— "(3) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, an infrastructure licence is declared not to be personal property.". (5) At the end of section 66 of the Petroleum (Submerged Lands) Act 1982 insert— "(2) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a pipeline licence is declared not to be personal property.". See: Act No. 9772. Reprint No. 5 as at 1 January 2005 and amending Act Nos 7/2005, 68/2009, 69/2009, 74/2009 and 10/2010. LawToday: www. legislation. vic.gov.au s. 31 -- 37 of 45 -- Part 6—Rights, Licences and Authorities Excluded from the Operation of the Personal Property Securities Act 2009 of the Commonwealth Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 34 32 Racing Act 1958 (1) After section 5B(1) of the Racing Act 1958 insert— "(1A) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a permit granted under this section is declared not to be personal property.". (2) At the end of section 24 of the Racing Act 1958 insert— "(9) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a licence is declared not to be personal property.". (3) At the end of section 24A of the Racing Act 1958 insert— "(14) For the purposes of section 8(1)(k) of the Personal Property Securities Act 2009 of the Commonwealth, a licence is declared not to be personal property.". __________________ See: Act No. 6353. Reprint No. 14 as at 20 August 2009 and amending Act Nos 45/2003 and 52/2009. LawToday: www. legislation. vic.gov.au s. 32 -- 38 of 45 -- Part 7—Priority between Security Interests and certain Statutory Interests Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 35 PART 7—PRIORITY BETWEEN SECURITY INTERESTS AND CERTAIN STATUTORY INTERESTS 33 Infringements Act 2006 At the end of section 104 of the Infringements Act 2006 insert— "(2) Section 73(2) of the Personal Property Securities Act 2009 of the Commonwealth applies to an interest arising out of the operation of this Part.". 34 Marine Act 1988 (1) At the end of section 62ZS of the Marine Act 1988 insert— "(2) Section 73(2) of the Personal Property Securities Act 2009 of the Commonwealth applies to an interest arising out of the operation of Subdivision 1 and this Subdivision.". (2) At the end of section 62ZX of the Marine Act 1988 insert— "(3) Section 73(2) of the Personal Property Securities Act 2009 of the Commonwealth applies to an interest arising out of the operation of this Subdivision.". See: Act No. 12/2006. Reprint No. 2 as at 1 July 2008 and amending Act Nos 30/2007, 44/2008, 68/2009, 87/2009, 6/2010 and 18/2010. LawToday: www. legislation. vic.gov.au s. 33 See: Act No. 52/1988. Reprint No. 7 as at 12 December 2007 and amending Act Nos 17/2009, 68/2009, 93/2009, 6/2010, 13/2010, 19/2010 and 30/2010. LawToday: www. legislation. vic.gov.au -- 39 of 45 -- Part 7—Priority between Security Interests and certain Statutory Interests Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 36 35 Port Services Act 1995 At the end of section 88V of the Port Services Act 1995 insert— "(5) Section 73(2) of the Personal Property Securities Act 2009 of the Commonwealth applies to an interest arising out of the operation of this Division.". 36 Road Safety Act 1986 (1) At the end of section 84ZS of the Road Safety Act 1986 insert— "(2) Section 73(2) of the Personal Property Securities Act 2009 of the Commonwealth applies to an interest arising out of the operation of this Division.". (2) At the end of section 84ZX of the Road Safety Act 1986 insert— "(3) Section 73(2) of the Personal Property Securities Act 2009 of the Commonwealth applies to an interest arising out of the operation of this Subdivision.". __________________ See: Act No. 82/1995. Reprint No. 5 as at 31 July 2009 and amending Act Nos 82/1995, 69/2009, 93/2009 and 6/2010. LawToday: www. legislation. vic.gov.au See: Act No. 127/1986. Reprint No. 12 as at 5 April 2010 and amending Act Nos 19/1991, 13/2009, 93/2009, 6/2010, 13/2010, 19/2010, 29/2010 and 30/2010. LawToday: www. legislation. vic.gov.au s. 35 -- 40 of 45 -- Part 8—Consequential Amendments Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 37 PART 8—CONSEQUENTIAL AMENDMENTS 37 Consequential amendments An Act specified in a heading to an item in the Schedule is amended as set out in that item. __________________ s. 37 -- 41 of 45 -- Part 9—Repeal of Amending Parts Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 38 PART 9—REPEAL OF AMENDING PARTS 38 Repeal Section 6, section 9, Division 2 of Part 3, section 16, Part 6, Part 7, Part 8 and Part 9 and the Schedule are repealed on 1 December 2012. Note These repeals do not affect the continuing operation of the amendments made by those provisions (see section 15(1) of the Interpretation of Legislation Act 1984). __________________ s. 38 -- 42 of 45 -- Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 39 SCHEDULE Section 37 1 Confiscation Act 1997 In section 41(2)— (a) in paragraph (c), for "1958; and" substitute "1958."; (b) paragraph (d) is repealed. 2 Infringements Act 2006 (1) In section 116(3)(a)(iii), for "; and" substitute ".". (2) Section 116(3)(b) is repealed. 3 Motor Car Traders Act 1986 3.1 For section 48(1)(a) of the Motor Car Traders Act 1986 substitute— "(a) any security interest in the motor car (including a motor car that is registered under the law of another State or Territory) that is registered on the Personal Property Securities Register established under Chapter 5 of the Personal Property Securities Act 2009 of the Commonwealth; and". 3.2 Section 48(1)(aa) of the Motor Car Traders Act 1986 is repealed. 3.3 In section 76(2) of the Motor Car Traders Act 1986, for "procure the cancellation of a security interest in a motor car registered under the Chattel Securities Act 1987 or any corresponding previous enactment" substitute "procure the cancellation of a security interest in a motor car that is registered on the Personal Property Securities Register established under Chapter 5 of the Personal Property Securities Act 2009 of the Commonwealth". Sch. -- 43 of 45 -- Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 40 3.4 In section 76(4)(a) of the Motor Car Traders Act 1986, for "a security interest in a motor car under the Chattel Securities Act 1987" substitute "a security interest in a motor car on the Personal Property Securities Register established under Chapter 5 of the Personal Property Securities Act 2009 of the Commonwealth.". 4 Road Safety Act 1986 In section 90C(3) of the Road Safety Act 1986, for "Chattel Securities Act 1987" substitute "Personal Property Securities Act 2009 of the Commonwealth.". 5 Victorian Civil and Administrative Tribunal Act 1998 5.1 In section 148(10), paragraph (a) of the definition of credit enactment is repealed. 5.2 In clause 2 of Schedule 1, paragraph (a) of the definition of credit enactment is repealed. ═══════════════ Sch. -- 44 of 45 -- Personal Property Securities (Statute Law Revision and Implementation) Act 2010 No. 74 of 2010 41 ENDNOTES † Minister's second reading speech— Legislative Council: 29 July 2010 Legislative Assembly: 2 September 2010 The long title for the Bill for this Act was "A Bill for an Act to revise the statute law of Victoria as a consequence of the enactment of the Personal Property Securities (Commonwealth Powers) Act 2009, to provide for the implementation of that Act and for other purposes." Endnotes -- 45 of 45 --