- Get free trial for practice areas as below
- Business
- Consumer
- Corporations
- Criminal
- Employment
- Family
- General Counsel
- Governance
- Immigration
- Intellectual Property
- Personal Injury NSW
- Personal Injury Qld
- Personal Injury Vic
- Personal Property Security
- Property
- Succession
- Work Health & Safety
- Tax
- Mergers & Acquisitions
- Banking & Finance
- Social Justice
- Cybersecurity, Data Protection & Privacy
- Insolvency
- Competition
- Securities — Personal Property
- Default and enforcement
Enforcement of a security interest under the PPS Act that secured a Code-regulated loan
The National Consumer Credit Protection Act 2009 (Cth) (NCCP Act) includes the National Credit Code (the Code) as Sch 1 to the NCCP Act.
When a security interest under the PPS Act secures a credit contract governed by the Code, the enforcement of the security interest is also governed by the provisions of that Code.
This guidance note outlines the specific provisions of the Code relating to mortgages over goods. It also considers how reg 4.1 of the Personal Property Securities Regulations 2010 (Cth) reconciles the notice provisions of the PPS Act with those of the Code by waiving compliance with some of the PPS Act provisions, provided the equivalent Code provisions are satisfied.
See Enforcement of a security interest under the PPS Act that secured a Code-regulated loan.
