Personal Property Securities Amendment (Deregulatory Measures) Act 2015

No. 74, 2015

An Act to amend the Personal Property Securities Act 2009, and for related purposes

[Assented to 25 June 2015]

The Parliament of Australia enacts:

This Act may be cited as the Personal Property Securities Amendment (Deregulatory Measures) Act 2015.

(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provision(s)	Commencement	Date/Details
1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table	The day this Act receives the Royal Assent.	25 June 2015
2. Schedule 1	A single day to be fixed by Proclamation. However, if the provision(s) do not commence within the period of 6 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.	1 October 2015 (F2015L01471)

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendments

Personal Property Securities Act 2009

1 After section 2

Insert:

2A Schedule 1

Schedule 1 has effect.

Note: Schedule 1 contains application, saving and transitional provisions relating to amendments of this Act.

2 At the end of section 3

Add:

Schedule 1 contains application, saving and transitional provisions relating to amendments of this Act.

3 Paragraph 13(1)(d)

Omit “year); or”, substitute “year).”

4 Paragraph 13(1)(e)

Repeal the paragraph.

5 Subparagraph 268(1)(a)(ii)

Repeal the subparagraph.

6 Subsection 268(1) (example)

Repeal the example.

7 At the end of the Act

Add:

Schedule 1—Transitional provisions relating to amendments of this Act

Note: See section 2A.

Part 1—Transitional provisions relating to the Personal Property Securities Amendment (Deregulatory Measures) Act 2015

1 Definitions

In this Part:

amending Act means the Personal Property Securities Amendment (Deregulatory Measures) Act 2015.

2 Application of amendments relating to serial numbered goods

Despite the amendments made by items 4 and 5 of Schedule 1 to the amending Act, this Act continues to apply, in relation to leases and bailments of goods entered into before the commencement of those items, as if those amendments had not been made.

[Minister’s second reading speech made in—

House of Representatives on 19 March 2014

Senate on 14 May 2015]

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