Personal Property Securities (Commonwealth Powers) Act 2009 (NSW)

Personal Property Securities (Commonwealth Powers) Act 2009 No 35

An Act to refer certain matters relating to security interests in personal property to the Parliament of the Commonwealth for the purposes of section 51 (xxxvii) of the Constitution of the Commonwealth.

1 Name and purpose of Act (1) This Act is the Personal Property Securities (Commonwealth Powers) Act 2009. (2) The purpose of this Act is to refer certain matters relating to security interests in personal property to the Parliament of the Commonwealth for the purposes of section 51 (xxxvii) of the Constitution of the Commonwealth.

2 Commencement (1) This Act commences on the date of assent to this Act, except as provided by subsection (2). (2) Section 6 (2), (3) and (4) commence on a day or days to be appointed by proclamation.

3 Definitions In this Act: amendment reference means a reference under section 6 (2), (3) or (4). Commonwealth PPS Act means a Commonwealth Act enacted in the terms, or substantially in the terms, of the tabled text and as in force from time to time. Commonwealth PPS instrument means any instrument (whether or not of a legislative character) that is made or issued under the Commonwealth PPS Act. crops includes (but is not limited to) the kinds of things that are included in the definition of crops for the purposes of the tabled text. excluded State statutory right means a State statutory right that is declared by the law of the State by or under which it is granted not to be personal property for the purposes of the Commonwealth PPS Act. express amendment of the Commonwealth PPS Act means the direct amendment of the text of that Act (whether by the insertion, omission, repeal, substitution or relocation of words or matter) by another Commonwealth Act, but does not include the enactment by a Commonwealth Act of a provision that has or will have substantive effect otherwise than as part of the text of the Commonwealth PPS Act. fixtures means goods, other than crops, that are affixed to land. general law means the principles and rules of the common law and equity to the extent to which they have effect in the State from time to time. goods means personal property that is tangible property, and includes (but is not limited to) the kinds of things that are included in the definition of goods for the purposes of the tabled text. initial reference means the reference under section 6 (1). initial referred provisions means the tabled text to the extent to which that text deals with matters that are included in the legislative powers of the Parliament of the State. interest, in relation to property, includes a right in the property. land includes all estates and interests in land, whether freehold, leasehold or chattel, but does not include goods that are affixed to land. law of the State means any Act of the State or any instrument made under such an Act, whenever enacted or made and as in force from time to time. licence means either of the following: (a) a transferable right, entitlement or authority to do one or more of the following: (i) to manufacture, produce, sell, transport or otherwise deal with personal property, (ii) to provide services, (iii) to explore for, exploit or use a resource, (b) a transferable authority to exercise rights comprising intellectual property, but does not include an excluded State statutory right. personal property means property (including a licence) other than: (a) land, or (b) an excluded State statutory right. reference means: (a) the initial reference, or (b) an amendment reference. referred PPS matters in relation to personal property—see section 4. register means any system for recording interests or information (whether in written or electronic form). security interest in personal property—see section 5. State statutory right means a right, entitlement or authority that is granted by or under a law of the State. tabled text means the text of the proposed Personal Property Securities Bill 2009 for a Commonwealth Act as tabled, by or on behalf of the Minister introducing the Bill for this Act, in the Legislative Assembly of New South Wales on 16 June 2009. transferable, in relation to a right, entitlement or authority, means transferable under the general law or a law of the State by the holder of the right, entitlement or authority (whether or not the right, entitlement or authority is exclusive, and whether or not a transfer is restricted or requires consent). water right means a right, entitlement or authority, whether or not exclusive, that is granted by or under the general law or a law of the State in relation to the control, use or flow of water, but does not include an excluded State statutory right.