Chattel Securities (Continued Register) Regulations 2011 (Vic)

Version No. 001

Chattel Securities (Continued Register) Regulations 2011

S.R. No. 166/2011

Version

as at

30 January 2012

TABLE OF PROVISIONS

Regulation  Page

1Objectives

2Authorising provision

3Commencement

4Definition

5Revocation

6Variation of particulars in continued register

7Fee for variation of particulars in continued register

8Fee for application to obtain certificate

9Fee for provision of information other than by certificate

10Multiple applications

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ENDNOTES

1.  General Information

2.  Table of Amendments

3.  Explanatory Details

Version No. 001

Chattel Securities (Continued Register) Regulations 2011

S.R. No. 166/2011

Version

as at

30 January 2012

1Objectives

The objectives of these Regulations are to—

(a)revoke the Chattel Securities (Registration) Regulations 2008 and amending Regulations; and

(b)prescribe information that can be varied in the continued register kept under section 33 of the Chattel Securities Act 1987; and

(c)prescribe fees; and

(d)enable applicants under the Chattel Securities Act 1987 to make a number of applications under the same section of that Act simultaneously.

2Authorising provision

These Regulations are made under section 45 of the Chattel Securities Act 1987.

3Commencement

These Regulations commence on the day that section 6 of the Personal Property Securities (Statute Law Revision and Implementation) Act 2010 comes into operation.

4Definition

In these Regulations, the Act means the Chattel Securities Act 1987.

5Revocation

The following Regulations are revoked—

(a)the Chattel Securities (Registration) Regulations 2008[1]; and

(b)the Chattel Securities (Registration) Amendment Regulations 2009[2]; and

(c)the Chattel Securities (Registration) Amendment (Fees) Regulations 2010[3].

6Variation of particulars in continued register

For the purposes of section 36 of the Act, a prescribed change is—

(a)a change to the particulars of a security interest entered in the register made in order to correct a clerical error; or

(b)a change to the registration number made in accordance with the relevant Act under which the number was assigned; or

(c)a change to a vehicle's engine identification number or vehicle identifier; or

(d)the removal of the engine of a registered motor vehicle and the substitution of that engine with another engine; or

(e)a change directed to be made by order of a court of competent jurisdiction.

7Fee for variation of particulars in continued register

The fee payable for the variation of particulars of a security interest under section 36 of the Act is $5.20.

8Fee for application to obtain certificate

For the purposes of section 39(4) of the Act, the prescribed fee is 1·2 fee units.

9Fee for provision of information other than by certificate

For the purposes of section 40 of the Act, the prescribed fee is 1·72 fee units per 15 minutes or part thereof.

10Multiple applications

A person may make more than one application under a section of the Act in relation to the same matter at the same time and each application is taken to be a separate application for the purposes of the Act and these Regulations.

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ENDNOTES

1.     General Information

The Chattel Securities (Continued Register) Regulations 2011, S.R. No. 166/2011 were made on 21 December 2011 by the Governor in Council under section 45 of the Chattel Securities Act 1987, No. 15/1987 and came into operation on 30 January 2012: regulation 3.

The Chattel Securities (Continued Register) Regulations 2011 will sunset 10 years after the day of making on 21 December 2021 (see section 5 of the Subordinate Legislation Act 1994).

2.     Table of Amendments

There are no amendments made to the Chattel Securities (Continued Register) Regulations 2011 by statutory rules, subordinate instruments and Acts.

3.     Explanatory Detail

[1] Reg. 5(a): S.R. No. 112/2008 as amended by S.R. Nos 75/2009 and 36/2010.

[2] Reg. 5(b): S.R. No. 75/2009.

[3] Reg. 5(c): S.R. No. 36/2010.