Personal Property Securities Act 1999

• Jurisdiction: New Zealand
• Reference: 1999 No 126
• Citation: 1999 No 126
• Record Number: DLM45599
• Act Number: 126
• Type of Document: Act

Contenidos

• Personal Property Securities Act 1999
• Preamble
• Contents
• 1 Short Title and commencement
• Part 1
• 2 Purpose of this Part
• 3 Status of this Part
• 4 What this Act is about
• 5 How Act arranged
• 6 Part 2 (Preliminary provisions)
• 7 Part 3 (Principles relating to enforceability of security interests)
• 8 Part 4 (Attachment and perfection of security interests in particular kinds of personal property)
• 9 Part 5 (When buyers or lessees of goods or other collateral take goods or other collateral free of security interest)
• 9A Part 6 (Additional provisions relating to when buyers or lessees of motor vehicles take motor vehicles free of security interest)
• 10 Part 7 (Priority between security interests)
• 11 Part 8 (Priority of other interests in collateral)
• 12 Part 9 (Enforcement of security interests)
• 13 Part 10 (Personal property securities register)
• 14 Part 11 (Miscellaneous)
• 15 Part 12 (Transitional provisions)
• Part 2
• 16 Interpretation
• 17 Meaning of security interest
• 17A Subordinated trusts not security interests
• 18 Meaning of possession in certain cases
• 19 Meaning of knowledge
• 20 Registration of financing statement not to constitute notice or knowledge
• 21 Status of examples
• 21A Transitional, savings, and related provisions
• 22 Act to bind the Crown
• 23 When Act does not apply
• 23A Act subject to application of Cape Town Convention and Aircraft Protocol
• 24 Application of Act not affected by secured party having title to collateral
• 25 Rights or duties that apply to be exercised in good faith and in accordance with reasonable standards of commercial practice
• 26 When New Zealand law applies
• 27 Continuity of perfection where goods are moved to New Zealand
• 28 Temporary perfection of security interest in collateral moved to New Zealand in other cases
• 29 Location of debtor for purposes of sections 30 to 33
• 30 Validity, perfection, etc, of security interests in intangibles, movable equipment, etc
• 31 Position where debtor relocates to another jurisdiction, etc
• 32 Position where no public record, etc, of perfection of security interest
• 33 Validity, perfection, etc, of security interest in minerals
• Part 3
• 34 Purpose of this Part
• 35 Effectiveness of security agreement
• 36 Enforceability of security agreements against third parties
• 37 Description of collateral as consumer goods or equipment inadequate
• 38 What constitutes adequate description of collateral held as inventory
• 39 Description of proceeds not required for enforceability against third parties
• 40 Attachment of security interests generally
• 41 When security interest perfected
• 42 Continuity of perfection where perfected security interest subsequently perfected in another way
• Part 4
• 43 Security interests in after-acquired property
• 44 Attachment of security interests in after-acquired property
• 45 Continuation of security interests in proceeds
• 46 When security interest in proceeds is continuously perfected
• 47 Temporary perfection of security interests in proceeds in other cases
• 48 Temporary perfection of security interest in negotiable instrument or investment security returned to debtor
• 49 Temporary perfection of security interest in negotiable document of title or goods returned to debtor
• 50 Perfection where goods in hands of bailee
• 51 Security interests in crops
• Part 5
• 52 Buyer or lessee of collateral takes collateral free of unperfected security interests
• 53 Buyer or lessee of goods sold or leased in ordinary course of business takes goods free of certain security interests
• 54 Buyer or lessee of consumer goods of certain value takes goods free of security interest
• 55 When buyer or lessee of serial-numbered consumer goods or equipment takes consumer goods or equipment free of security interest perfected by registration
• 56 When buyer or lessee of goods takes goods free of temporarily perfected security interests
• Part 6
• 57 Interpretation
• 58 Buyer or lessee of motor vehicle acquired from registered trader takes motor vehicle free of security interest
• 59 Reimbursement of secured party by registered trader
• 60 Reimbursement of secured party by fund
• 61 Procedure for making claims for reimbursement
• 62 Subrogation of rights of action against debtor and registered trader
• 63 District Court Judge may declare certain persons responsible for repayment to registered trader
• 64 Application of Companies Act 1993, etc, where dealer company in liquidation
• 65 Secured party subrogated to rights of registered trader against buyer or lessee
• Part 7
• 66 Priority of security interests in same collateral when Act provides no other way of determining priority
• 67 Original method of perfection applies to continuously perfected security interest
• 68 Time of registration, etc, of original collateral is also time of registration, etc, of proceeds
• 69 Transfer of security interests does not affect priority
• 70 Voluntary subordination of security interests
• 71 Security agreement may provide for future advances
• 72 Priority of security interest applies to all advances
• 73 Priority of purchase money security interest in...