Footnotes
CHAPTER 1 - INTRODUCTION
[1]
Explanatory memorandum, p. 13.
[2]
Senate Hansard, 10 March 2010, p. 2099.
[3]
Senate Hansard, 10 March 2010, p. 2099.
[4]
These reports are available through the committee's website at https://www.aph.gov.au/Senate/committee/legcon_ctte/completed_inquiries/index.htm
[5]
Senate Hansard, 10 March 2010, p. 2099.
CHAPTER 2 - OVERVIEW OF THE BILL
[1]
EM, p. 3.
[2]
EM, p. 6.
[3]
EM, p. 7.
[4]
EM, p. 9.
[5]
EM, p. 9.
[6]
EM, p. 10.
[7]
EM, pp 10-12.
[8]
EM, p. 13.
[9]
EM, p. 13.
[10]
EM, p. 13.
[11]
Submission 3, p. 1.
[12]
Submission 3, p. 1.
[13]
EM, p. 17.
[14]
EM, p. 17.
[15]
EM, p. 17.
[16]
EM, p. 17.
[17]
EM, p. 17.
[18]
EM, p. 18.
[19]
For further information, see EM, p. 19.
[20]
EM, p. 19.
[21]
EM, p. 20.
[22]
EM, pp 21-22.
[23]
EM, p. 22. For further information on the amendments contained in Schedule
2, see EM, pp 19-43.
[24]
For further information on the amendments contained in Schedule 2, see EM,
pp 19-43.
[25]
EM, p. 44.
[26]
For further information relating to the amendments to the PPS Act
transitional provisions, see EM, pp 44-48.
[27]
For further information on these amendments, see EM, pp 49-52.
CHAPTER 3 - KEY ISSUES
[1]
Submission 3, p. 4.
[2]
Submission 11, p. 4.
[3]
Explanatory memorandum (EM), p. 9.
[4]
Submission 2, p. 1.
[5]
Submission 2, p. 2. 'Perfection' is a technical term which means
that a security interest has attached to collateral and is effective against
third parties. Perfection may occur by, for example, registration, possession
or control of the security interest property (Attorney-General's Department, Submission
8, Inquiry into the exposure draft of the personal properties securities
bill 2008, 19 March 2009, p. 14).
[6]
Submission 2, p. 2.
[7]
See Submission 11, pp 1-5.
[8]
EM, p. 11.
[9]
Submission 1, p. 1; Bill, p. 22.
[10]
Submission 11, p. 3.
[11]
Submission 2, p. 2.
[12]
Submission 2, p. 2. A 'purchase money security interest' (PMSI) is
a security interest in collateral created by, for example, a seller who has
secured the obligation to pay the purchase price, a person who provided the
value to purchase the collateral, or the interest of a consigner who delivers
property under a commercial consignment. A PMSI confers 'super-priority' on the
secured party (Attorney-General's Department, Submission 8, Inquiry
into the exposure draft of the personal properties securities bill 2008, 19
March 2009, p. 15).
[13]
Submission 2, p. 2.
[14]
Submission 10, p. 3.
[15]
Submission 11, p. 1.
[16]
Submission 2, p. 3.
[17]
Submission 3, p. 6.
[18]
Submission 3, p. 6.
[19]
Submission 3, p. 5.
[20]
Submission 11, p. 2.
[21]
Submission 1, p. 1.
[22]
Submission 11, p. 2.
[23]
EM, p. 13.
[24]
EM, p. 13.
[25]
EM, p. 13.
[26]
Submission 3, p. 1.
[27]
Submission 3, p. 1.
[28]
Submission 3, p.1.
[29]
Submission 3, p. 1.
[30]
Submission 3, p. 1.
[31]
Submission 11, p. 4.
[32]
Submission 11, p. 5.
[33]
Submission 3, p. 1.
[34]
Submission 11, p. 6.
[35]
Submission 2, p. 3.
[36]
Submission 2, p. 3.
[37]
Submission 2, p. 4.
[38]
Submission 11, p. 7.
[39]
PPS Act, p. 293.
[40]
The EM notes that the registration commencement time is a key event
in the transitional provisions. This refers to the time at which the PPS Act
and the PPS Register take practical effect (p. 44).
[41]
Clayton Utz, Submission 3, p. 10.
[42]
Clayton Utz, Submission 3, p. 12.
[43]
Australian Securitisation Forum, Submission 4, p. 2.
[44]
Allens Arthur Robinson, Blake Dawson, Freehills Lawyers and Mallesons
Stephen Jaques, Submission 7, p. 2.
[45]
Senate Scrutiny of Bills Committee reports may be accessed at https://www.aph.gov.au/senate/committee/scrutiny/bills/2010/index.htm
[46]
Alert Digest No. 4 of 2010, 17 March 2010, p. 7.
[47]
Alert Digest No. 4 of 2010, 17 March 2010, p. 7.
[48]
Alert Digest No. 4 of 2010, 17 March 2010, p. 8.
[49]
Alert Digest No. 4 of 2010, 17 March 2010, p. 8.
[50]
Alert Digest No. 4 of 2010, 17 March 2010, p. 8.
Additional comments from Liberal Senators
[1]
Inquiry into the Personal Property Securities Bill 2009
[Provisions], August 2009, p. 36.
APPENDIX 1 - RESPONSE FROM ATTORNEY-GENERAL'S DEPARTMENT TO SUBMISSIONS RECEIVED FOR THIS INQUIRY[1]
[1] 'Inquiry
into the Personal Property Securities (Corporations and Other Amendments) Bill
2010: Summary of submissions and comments by the Australian Attorney-General’s
Department', Submission 11.