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Personal Property Securities Amendment (PPS Leases) Act 2017

Authoritative Version
  • - C2017A00039
  • In force - Latest Version
Act No. 39 of 2017 as made
An Act to amend the Personal Property Securities Act 2009, and for related purposes
Administered by: Attorney-General's
Originating Bill: Personal Property Securities Amendment (PPS Leases) Bill 2017
Registered 23 May 2017
Date of Assent 19 May 2017
Table of contents.

 

 

 

 

 

 

Personal Property Securities Amendment (PPS Leases) Act 2017

 

No. 39, 2017

 

 

 

 

 

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

  

  


Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Schedules............................................................................................ 2

Schedule 1—Amendments                                                                                                3

Personal Property Securities Act 2009                                                                   3

 


 

 

Personal Property Securities Amendment (PPS Leases) Act 2017

No. 39, 2017

 

 

 

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

[Assented to 19 May 2017]

The Parliament of Australia enacts:

1  Short title

                   This Act is the Personal Property Securities Amendment (PPS Leases) Act 2017.

2  Commencement

             (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

Provisions

Commencement

Date/Details

1.  The whole of this Act

The day after this Act receives the Royal Assent.

20 May 2017

Note:          This table relates only to the provisions of this Act as originally enacted.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  Schedules

                   Legislation 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 1Amendments

  

Personal Property Securities Act 2009

1  Paragraph 13(1)(a)

Omit “one year”, substitute “2 years”.

2  Paragraph 13(1)(b)

Repeal the paragraph.

3  Paragraph 13(1)(c)

Omit “one year” (wherever occurring), substitute “2 years”.

4  Paragraph 13(1)(d)

Omit “one year” (first occurring), substitute “2 years, or a lease for an indefinite term”.

5  Paragraph 13(1)(d)

Omit “one year” (second and third occurring), substitute “2 years”.

6  In the appropriate position in Schedule 1

Insert:

Part 2Application provision relating to the Personal Property Securities Amendment (PPS Leases) Act 2017

  

3  Application provision relating to the Personal Property Securities Amendment (PPS Leases) Act 2017

                   The amendments of section 13 made by the Personal Property Securities Amendment (PPS Leases) Act 2017 apply in relation to leases or bailments entered into after this section commences.


[Minister’s second reading speech made in—

House of Representatives on 1 March 2017

Senate on 29 March 2017]

(35/17)