Western Australian Numbered Acts Western Australian Numbered Acts After Schedule 3
clause 3 insert:
Division 2A — Schedule ceases to have effect except as
otherwise provided
In this
Division —
migration time has the meaning given in the
Personal Property Securities Act 2009 (Commonwealth)
section 306(1);
pre-PPS transition period means the
period —
(a)
commencing at the migration time or such earlier time as may be prescribed by
the regulations; and
(b)
ending at the registration commencement time;
registrable charge means a charge created before
the registration commencement time that was a registrable charge as defined in
clause 1 when it was created;
registration commencement time has the meaning
given in the Personal Property Securities Act 2009 (Commonwealth)
section 306(2);
registration function means any function conferred
or imposed on the Registrar under this Schedule.
4B. Effect of Schedule at and after registration
commencement time
(1) Subject to
subclause (2) and clause 4D, this Schedule has no effect at and
after the registration commencement time.
(2) If a registrable
charge is void immediately before the registration commencement time or
becomes void at or after that time, the Supreme Court may declare the charge
not to be, and never to have been void if —
(a) an
application has been made to the Supreme Court under clause 29 before the
registration commencement time or is made at or after that time in accordance
with clause 29; and
(b) the
Supreme Court is satisfied as to the matters referred to in clause 29(a)
or (b).
4C. Refusal to exercise registration functions
(1) The Registrar may
refuse to exercise a registration function during the pre-PPS transitional
period.
(2) Without limiting
subclause (1), the Registrar may refuse to exercise a registration
function during the pre-PPS transitional period in relation to a matter that
was not finally determined or concluded immediately before the commencement of
that period.
(3) After the end of
the pre-PPS transitional period the Commissioner is not to exercise a
registration function.
4D. Priority between registrable charges
Subject to the
Personal Property Securities Act 2009 (Commonwealth) Chapter 9, at
and after the registration commencement time, registrable charges have the
priority between themselves that they would have had under this Act as in
effect immediately before the registration commencement time.