Australian personal property securities law

Full Title
Copyright
Foreword to the First Edition
Preface to the First Edition
Preface to the Second Edition
Table of Cases
Table of Statutes
Table of Contents
	Chapter 1 Introduction
		Secured and Unsecured Credit
			Unsecured Credit
			Secured Credit
			The Function of Security
		Pre-PPSA Categories and Forms of Security Interest
			Consensual and Non-consensual Security Interests
			Two-party Transactions and Three-party Transactions
			Real and Personal Property Securities
			Possessory and Non-possessory Security Interests
			Mortgages and Hypothecations
			Legal and Equitable Security Interests
			Transfer-based Security Interests and Title Retention Arrangements
			Fixed and Floating Security Interests
		The History of The Australian PPS Reforms
		The Statutory Review
	Chapter 2 Personal Property and its Classifications
		Introduction
		Goods
		Financial Property
			Introduction
			Chattel Paper
			Currency
			Documents of Title
			Investment Instruments
			Negotiable Instruments
		Intermediated Security
		Intangible Property
			Introduction
			Accounts
			ADI Accounts
			Intellectual Property
			Licences
		Commercial Property and Consumer Property
		Inventory and Non-Inventory Personal Property
	Chapter 3 The Scope of the Statute
		Introduction
		The Substance Test
			Introduction
			Title Retention Arrangements
			Consignments
			Trusts
			Flawed Asset Arrangements
			Other Cases
			The Interpretation Function
		Deemed Security Interests
			Accounts and Chattel Paper
			Consignments
			PPS Leases
		Exceptions
			Licences
			Subordination Agreements
			Bills of Lading
			Security Interests Arising by Operation of Law
			Set-off
			Land Dealings
			Insurance Contracts and Annuities
			The Quistclose Trust
			Other Exclusions
	Chapter 4 Attachment and Writing Requirements
		Introduction
		General Rules about Security Agreements
			Security Agreement
			After-acquired Property
			Future Advances
			Enforcement Expenses
		Attachment
			Introduction
			Agreement
			Value
			Rights in the Collateral
			Postponement of Attachment
		The Writing Requirement
			Introduction
			Writing
			Signature
			Collateral Description
			Implied References to Intellectual Property Rights
			Proceeds
			Consequences of Non-compliance
		Floating Charges
	Chapter 5 Perfection
		Introduction
		The Function of Perfection
		Perfection by Possession
			Introduction
			Constructive Possession
			Goods Possessed by Bailee
			Negotiable Instruments
			Electronic Chattel Paper
			Investment Instruments
		Perfection by Registration
		Perfection by Control
			ADI Accounts
			Intermediated Securities
			Investment Instruments
			Uncertificated Negotiable Instruments and Letter of Credit Rights
		Temporary Perfection
		Loss and Continuity of Perfection
		Transfer of Security Interest
		Transfer of Collateral
		Access to Details Of Security Agreement
		Consequences of Failure to Perfect
	Chapter 6 Registration
		Introduction
		Pre-PPSA and PPSA Registration Compared
			Introduction
			Unification
			Centralisation
			Notice Filing
			Computerisation
			Registration Renewals
		Searching the Register
			Grantor's Name (Grantor Details) Searches and Serial Number Searches
			Grantor's Details Searches — Individual Grantor
			Grantor's Detail Searches — Corporate Grantor
			Grantor's Details Searches — Other
			Serial Number Searches — Consumer Property
			Serial Number Searches — Commercial Property
			Restrictions on Access to the Register
			Follow-up Inquiries
		Registering a Financing Statement
			The Mechanics of Registration
			Registration Errors
		Registration Amendments
		Changes in Grantor's Details and Other Particulars
		Amendment Demands
	Chapter 7 The Default Priority Rules
		Introduction
		The Section 55 Priority Rules
			Competing Perfected Security Interests
			Reperfected Security Interests
			Perfected Security Interest versus Unperfected Security Interest
			Competing Unperfected Security Interests
			The Irrelevance of Notice
		The Section 57 Priority Rules
		Future Advances
			Introduction
			The Law
			Policy Considerations
		Subordination Agreements
		Circular Priorities
		The Double Grantor Rules
	Chapter 8 Purchase Money Security Interests
		Introduction
		Policy Considerations
		The Meaning of 'Purchase Money Security Interest'
			Seller pmsis and Lender pmsis
			Exceptions
			Mixed PMSIs and Non-PMSIs
			Allocation of Payments
			Refinancings and Consolidations
			PPS Leases
		Requirements for Super-Priority
		Competing PMSIs
		PMSI in Accounts as Proceeds
		Subordination Agreements
		Security Interests in Crops and Livestock
	Chapter 9 Accessions, Commingled Goods and Crops
		Introduction
		Accessions
			Introduction
			The Meaning of 'Accession'
			The Priority Rules
			Removal of Accession
		Processed or Commingled Goods
			Introduction
			Continuation and Perfection of Security Interest
			Priority between Competing Claims to End Product
		Crop Security Interests
	Chapter 10 Transfers of Collateral
		Introduction
		Unperfected Security Interests
		Perfected Security Interests
			Serial-numbered Collateral
			Special Rules for Motor Vehicles
			Sale or Lease in the Ordinary Course of Business
			Low-value Transactions
			Interface with Other Laws
			Currency
			Investment Instruments and Intermediated Securities
			Temporarily Perfected Security Interests
			Subrogation
		Creditor Payments, Negotiable Instruments, Chattel Paper and Negotiable Documents of Title
			Creditor Payments
			Negotiable Instruments
			Chattel Paper
			Negotiable Documents of Title
		Returned and Repossessed Goods
			Introduction
			Returned Goods — Reattachment of Security Interest
			Returned Collateral — Accounts and Chattel Paper
			Priority of Security Interests in Returned Goods
	Chapter 11 Proceeds
		Introduction
		The Pre-PPSA Position
		The Meaning of Proceeds
			Introduction
			Second and Subsequent Generation Proceeds
			The Dealing Requirement
			The Grantor's Interest Limitation
			Identifiable or Traceable Personal Property
		Attachment of Security Interest to Proceeds
			Introduction
			The Secured Party's Cumulative Entitlements
			Proprietary and Personal Claims
		Perfection and priorities
			Introduction
			Other Methods of Perfection
			Priorities
	Chapter 12 Enforcement of Security Interests
		Introduction
		Scope of PPSA Chapter 4
			Deemed Security Interests
			Goods Located Outside Australia
			Investment Instruments and Intermediated Securities
			Consumer Transactions
			Contracting Out
			Receivers
			Security Interests in Personal Property and Land 371
		General Rules
			Commercially Reasonable Manner
			Limitation on Secured Party's Rights
			Non-merger
			Cumulative Rights and Remedies
			Default
			Notice Requirements
		Notice Before Enforcement
		Seizure of Collateral
			Introduction
			Methods Permitted by Law
			Apparent Possession
			Higher and Lower Ranking Secured Parties
		Disposal of Collateral
			Timing of Disposal
			Notice before Disposal
			Methods of Disposal
			Statement of Account Following Disposal
			Purchaser's Title
			Distribution of Collateral Disposal Proceeds
			Redemption and Reinstatement
		Retaining Collateral
			Introduction
			Notice Requirements
			The Consequences of the Remedy
			Objections and Related Matters
		Collection Rights
			Introduction
			Notice Requirements
			Notification and Non-notification Transactions
			The Account Debtor's Rights
		Crops and Livestock
		Corporations Act 2001 (Cth) Part 5.2
	Chapter 13 Insolvency Law and the PPSA
		Introduction
		Insolvency and The Effect of Non-Perfection
			Introduction
			The PPSA Provisions
			The Corporations Act Provisions
		Consequential Amendments to Corporations Act
			Introduction
			Circulating Security Interests
			PPSA Retention of Title Property
			Possessory Security Interests
		Personal Insolvency
	Chapter 14 Conflict of Laws
		Introduction
		The Territorial Reach of The PPSA
		The scope of PPSA Part 7.2
		Security Interest in Goods
			The Main Rules
			Relocation of Goods
			The Destination of Goods Rule
			The Mobile Goods Rule
			Security Interests in Ships
		Security Interests in Intangible Property
			The Main Rules
			Intellectual Property
			ADI Accounts
			Relocation of Grantor
			Priority of Security Interest if no Foreign Register
		Security Interests in Financial Property and Letter of Credit Rights
			Introduction
			Validity Rules
			Perfection Rules
		Proceeds
		Enforcement of Security Interests
	Chapter 15 Transitional Matters
		Introduction
		Initial Application of Act
			Registration Commencement Time
			Registration
			Fixed and Floating Charges
		Transitional Provisions
			Introduction
			Transitional Security Agreement
			Transitional Security Interest
			Enforceability
			Attachment
			Perfection
			Perfection by Possession
			Enforcement of Transitional Security Interests
		Migrated Security Interests
			Introduction
			Migration Time
			Transitional Registers
			Perfection
			Errors and Deficiencies in Migrated Data
		Priorities
			Introduction
			Transitional vs Non-transitional Security Interests
			Perfected Transitional vs Perfected Non-transitional Security Interests
			Unperfected Transitional vs Unperfected Non-transitional Security Interests
			Perfected Security Interest vs Unperfected Transitional Security Interest
			Disputes between Competing Perfected, or Competing Unperfected, Transitional Security Interests
			Control
			Insolvency
	Chapter 16 Aircraft Security Interests and Other International Developments
		Introduction
		Aircraft Security Interests
			Application of Convention
			Interpretation and Applicable Law
			Formal Requirements
			Registration
			Priorities
			Effect of Insolvency
			Default Remedies
			Other Protocols
		Other International Initiatives
			Introduction
			UNCITRAL Legislative Guide on Secured Transactions
			UN Convention on the Assignment of Receivables in International Trade
			UNIDROIT Convention on Substantive Rules for Intermediated Securities
			EBRD Model Law on Secured Transactions
			Regional and National Initiatives
Index