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Queensland
JUSTICE LEGISLATION
(BILLS OF SALE, STOCK
MORTGAGES AND LIENS)
AMENDMENT BILL 1998
Queensland
JUSTICE LEGISLATION (BILLS OF
SALE, STOCK MORTGAGES AND
LIENS) AMENDMENT BILL 1998
TABLE OF PROVISIONS
Section Page
PART 1--PRELIMINARY
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
PART 2--AMENDMENT OF BILLS OF SALE AND OTHER
INSTRUMENTS ACT 1955
3 Act amended in pt 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
4 Replacement of s 2 (Commencement) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
2 Act binds all persons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
5 Amendment of s 6 (Meaning of terms) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
6 Replacement of pt 2 (Registrations) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
PART 2--REGISTRATION AND ITS EFFECTS
Division 1--Application of part
7 Application of pt 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Division 2--The register and registration
8 Register . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
9 Application for registration of security interest . . . . . . . . . . . . . . . . . 12
10 Application for renewal of registration of security interest . . . . . . . 12
11 Registration, or renewal of registration, of security interest . . . . . . 13
12 Expiry of registration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Division 3--Other provisions about registration and registered
security interests
13 Inspecting the register . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
2
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
14 Copies of documents to which security interest relates . . . . . . . . . . 14
15 Registration of restraining orders . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
16 Application for registration of assignment of registered
security interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
17 Registration of assignment of a registered security interest . . . . . . . 15
18 Effect of failure to register a security interest . . . . . . . . . . . . . . . . . . 15
18A Priority given from time of registration . . . . . . . . . . . . . . . . . . . . . . . 15
18B Priority of security interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Division 4--Discharge of registered security interests
18C Application for discharge of registered security interest . . . . . . . . . 17
18D Registration of discharge of registered security interest . . . . . . . . . . 17
18E Duty after interest fully discharged . . . . . . . . . . . . . . . . . . . . . . . . . . 17
18F Borrower may seek registration of discharge or change in
particulars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Division 5--Changes to register
18G Changes to particulars in register . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
18H Correction of errors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Division 6--Compensation for loss
18I Application of division . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
18J Compensation for loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Division 7--General
18K Chief executive to be satisfied stamp duty has been
accounted for . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
7 Amendment of s 19 (Contents of instruments) . . . . . . . . . . . . . . . . . . . . . . . 22
8 Amendment of s 20 (Instrument to be attested and when
registered to have effect of a deed) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
9 Omission of s 22 (Instrument subject to defeasance etc. of no
effect in certain cases) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
10 Omission of pt 4, div 1 (Optional registration of assignments of
book debts) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
11 Amendment of s 25 (Stock mortgages) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
12 Amendment of s 27 (Stock to include increase of stock etc.) . . . . . . . . . . . 23
13 Amendment of s 30 (Grantor may provide for grantee to have
wool from mortgaged sheep) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
3
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
14 Amendment of s 31 (Liens may be given on crops) . . . . . . . . . . . . . . . . . . . 24
15 Amendment of s 32 (Savings of existing mortgages etc.) . . . . . . . . . . . . . . 25
16 Omission of s 33 (Duration of registration of liens on crops) . . . . . . . . . . . . 25
17 Amendment of s 34 (Security may be given over wool) . . . . . . . . . . . . . . . 25
18 Amendment of s 35 (Wool to continue subject to lien despite
subsequent sale or mortgage) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
19 Amendment of s 36 (Grantee may take possession and shear
sheep subject to the lien if grantor neglects to do so) . . . . . . . . . . . . . . . . . 26
20 Replacement of s 37 (Instrument by way of security securing an
account current) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
37 Security interest securing account current . . . . . . . . . . . . . . . . . . . . . 26
21 Insertion of new ss 37A-37C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
37A False or misleading statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
37B False or misleading documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
37C Protection from liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
22 Replacement of s 38 (Delegations) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
38 Delegations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
23 Amendment of s 49 (Registrar is registrar for repealed State
Securities Registration Act 1925) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
24 Insertion of new pt 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
PART 6--TRANSITIONAL AND SAVING PROVISIONS
50 Transitional provisions about register . . . . . . . . . . . . . . . . . . . . . . . . . 28
51 Transitional provision about registered instruments . . . . . . . . . . . . . 29
52 Transitional provision about crop liens . . . . . . . . . . . . . . . . . . . . . . . 29
53 Transitional provision about expiry of liens on wool . . . . . . . . . . . . 29
54 Transitional provision about stock mortgages and certain
other securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
55 Saving of priority--Justice Legislation (Bills of Sale,
Stock Mortgages and Liens) Amendment Act 1998 . . . . . . . . . . . . . 30
PART 3--AMENDMENT OF LIENS ON CROPS OF SUGAR
CANE ACT 1931
25 Act amended in pt 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
26 Amendment of s 2 (Interpretation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
4
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
27 Insertion of new ss 3-3A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
3 Application of s 2 to certain instruments . . . . . . . . . . . . . . . . . . . . . . 32
3A Act binds all persons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
28 Replacement of ss 4-7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
4 Charge on crop to be created by instrument . . . . . . . . . . . . . . . . . . . 32
5 Register . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
6 Application for registration of lien . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
7 Application for renewal of registration of lien . . . . . . . . . . . . . . . . . . 33
7A Registration, or renewal of registration, of lien . . . . . . . . . . . . . . . . . 34
7B Expiry of registration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
7C Inspecting the register . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
7D Copies of instrument creating lien . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
7E Application for registration of assignment of registered lien . . . . . . 35
7F Registration of assignment of a registered lien . . . . . . . . . . . . . . . . . 35
7G Effect of failure to register lien . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
7H Priority given from time of registration . . . . . . . . . . . . . . . . . . . . . . . 36
7I Priority of liens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
7J Application for discharge of registered lien . . . . . . . . . . . . . . . . . . . . 36
7K Registration of discharge of registered lien . . . . . . . . . . . . . . . . . . . . 37
7L Duty after lien fully discharged . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
7M Lienor may seek registration of discharge or change in
particulars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
7N Changes to particulars in register . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
7O Correction of errors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
7P Application of compensation provision . . . . . . . . . . . . . . . . . . . . . . . 40
7Q Compensation for loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
7R Chief executive to be satisfied stamp duty has been
accounted for . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
29 Amendment of s 9 (Application of proceeds of sugarcane) . . . . . . . . . . . . . 41
30 Omission of s 10 (Restriction as to continuance of lien) . . . . . . . . . . . . . . . 42
31 Amendment of s 11 (Further provisions regarding liens) . . . . . . . . . . . . . . . 42
32 Amendment of s 12 (Provisions as to priority where 2 or more
liens given) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
5
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
33 Replacement of s 13 (Renewal of liens) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
13 Effect of harvesting crop on lien . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
34 Omission of s 14 (Provision as to renewal of liens) . . . . . . . . . . . . . . . . . . . 43
35 Amendment of s 16 (Priority) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
36 Replacement of s 17 (Production of lien to owner of mill) . . . . . . . . . . . . . 43
17 Notice of lien to be given to mill owner . . . . . . . . . . . . . . . . . . . . . . 43
37 Omission of ss 18-22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44
38 Amendment of s 23 (Non-application of Bills of Sale Act etc.) . . . . . . . . . 44
39 Replacement of s 23A (Delegations) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45
23A False or misleading statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45
23B False or misleading documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45
23C Protection from liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
23D Delegations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
40 Insertion of new ss 26-30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
26 Transitional provisions about register . . . . . . . . . . . . . . . . . . . . . . . . . 46
27 Transitional provision about registered instruments . . . . . . . . . . . . . 46
28 Transitional provisions about existing liens . . . . . . . . . . . . . . . . . . . . 47
29 Transitional provision about expiry of registered liens . . . . . . . . . . . 47
30 Saving of priority--Justice Legislation (Bills of Sale,
Stock Mortgages and Liens) Amendment Act 1998 . . . . . . . . . . . . . 47
SCHEDULE . . . . . . . . . . . . . . . . . . . . . . . . . 49
MINOR AMENDMENTS TO BILLS OF SALE AND OTHER
INSTRUMENTS ACT 1955
1998
A BILL
FOR
An Act to amend the Bills of Sale and Other Instruments Act 1955 and
the Liens on Crops of Sugar Cane Act 1931, and for other
purposes
s1 8 s4
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
The Parliament of Queensland enacts--
PART 1--PRELIMINARY
title
Short
Clause 1. This Act may be cited as the Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment Act 1998.
Commencement
Clause 2. This Act commences on a day to be fixed by proclamation.
PART 2--AMENDMENT OF BILLS OF SALE AND
OTHER INSTRUMENTS ACT 1955
amended in pt 2
Act
Clause 3. This part and the schedule amend the Bills of Sale and Other
Instruments Act 1955.
of s 2 (Commencement)
Replacement
Clause 4. Section 2--
omit, insert--
binds all persons
`Act
`2. This Act binds all persons, including the State, and, so far as the
legislative power of Parliament permits, the other States.'.
s5 9 s5
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
of s 6 (Meaning of terms)
Amendment
Clause 5.(1) Section 6, heading--
omit, insert--
`Definitions'.
(2) Section 6(1), definitions "central district", "far northern district",
"grantee", "grantor", "northern district", "office of the registrar",
"registrar", "southern district" and "unregistered instrument"--
omit.
(3) Section 6(1)--
insert--
` "assign" includes transfer.
"borrower", in relation to a security interest, means--
(a) a person who gives a security interest to a lender; or
(b) the personal representative of a person mentioned in
paragraph (a); or
(c) if the person mentioned in paragraph (a) is a corporation--its
successors in title and permitted assigns.
"lender", in relation to a security interest, means--
(a) a person holding a security interest or a person who holds a
security interest for the benefit of someone else; or
(b) the personal representative of a person mentioned in
paragraph (a); or
(c) if the person mentioned in paragraph (a) is a corporation--its
successors in title and permitted assigns.
"official" means the chief executive, or an officer or employee of the
department.
"printed search result" see section 13.
"register" means the register kept under section 8.
"registered" means included in the register.
s5 10 s5
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
"security interest" means an interest in--
(a) a chattel under a bill of sale; or
(b) stock under a stock mortgage; or
(c) a crop under a lien on crops; or
(d) wool under a lien on wool.
"unregistered security interest" means a security interest that--
(a) is not registered under this Act; or
(b) has expired.'.
(4) Section 6(2), as a heading--
insert--
`Application of Act to bills of sale'.
(5) Section 6(2) and (2A)--
renumber as section 6A(1) and (2).
(6) Section 6(3), as a heading--
insert--
`Limitation on separate assignment etc.'.
(7) Section 6(3)--
renumber as section 6B.
(8) Section 6(4), as a heading--
insert--
`Rents and profits'.
(9) Section 6(4), (4A) and (4B)--
renumber as section 6C(1), (2) and (3).
(10) Section 6(5) and (6)--
renumber as section 6D(1) and (2).
s6 11 s6
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
(11) Section 6(6), `For the purposes of subsection (5)'--
omit, insert--
`In this section'.
of pt 2 (Registrations)
Replacement
Clause 6. Part 2--
omit, insert--
`PART 2--REGISTRATION AND ITS EFFECTS
1--Application of part
`Division
of pt 2
`Application
`7. This part does not apply to a security interest, whether created before
or after the commencement of this section, to the extent that the interest
relates to a motor vehicle within the meaning of the Motor Vehicles
Securities Act 1986.
2--The register and registration
`Division
`Register
`8.(1) The chief executive must keep a register of security interests.
`(2) The register must include the following particulars in relation to each
security interest included in the register--
(a) the name and address of the lender and the borrower;
(b) whether the interest is given under a bill of sale, stock mortgage
or lien;
(c) the day and time the particulars are included in the register;
(d) other particulars that may be prescribed under a regulation.
s6 12 s6
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
`(3) The security interest is "registered" when the particulars are
included in the register.
for registration of security interest
`Application
`9.(1) An application for the registration of a security interest must--
(a) be made in the way prescribed under a regulation; and
(b) if the security interest is an interest in stock under a stock
mortgage or a crop under a lien on crops or wool under a lien on
wool--nominate the day the security interest expires; and
(c) be accompanied by the fee that may be prescribed under a
regulation.
`(2) The application must include a description of the chattels to which
the interest relates, to the extent to which the chattels are ascertainable.
Examples of suitable descriptions of chattels--
1. One blue Ace (8 blades) plough, serial number 0001.
2. Stock-in-trade of AZ Pty Ltd.
3. Book debts of JB and Co.
`(3) The chief executive is not required to inquire into the validity of
information supporting the application.
for renewal of registration of security interest
`Application
`10.(1) An application for the renewal of registration of a security interest
must--
(a) be made in the way prescribed under a regulation; and
(b) if the security interest is an interest in stock under a stock
mortgage or a crop under a lien on crops or wool under a lien on
wool--nominate the day the security interest expires; and
(c) be accompanied by the fee that may be prescribed under a
regulation.
`(2) The chief executive is not required to inquire into the validity of
information supporting the application.
s6 13 s6
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
`(3) The registration of a security interest must be renewed before the
registration expires.
or renewal of registration, of security interest
`Registration,
`11.(1) If the chief executive is satisfied that an application for the
registration, or renewal of the registration, of a security interest is properly
made, the chief executive must register, or renew the registration of, the
security interest by including in the register the relevant particulars
mentioned in section 8(2).
`(2) Applications for registration, or renewal of registration, of security
interests must be registered in the order of time of lodgment with the chief
executive.
of registration
`Expiry
`12.(1) A registration of a security interest after the commencement of
this section expires--
(a) for a security interest in stock under a stock mortgage or a crop
under a lien on crops or wool under a lien on wool--the day
nominated by the lender in the application for registration as the
day the security interest expires; or
(b) otherwise--the day 5 years after the registration takes effect.
`(2) In this section--
"registration" includes renewal of registration.
3--Other provisions about registration and registered security
`Division
interests
the register
`Inspecting
`13.(1) A person may, on payment of the fee prescribed under a
regulation--
(a) inspect the register at an office of the department prescribed under
s6 14 s6
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
a regulation when the prescribed office is open to the public; and
(b) take extracts from, or obtain a copy of the particulars in, the
register (a "printed search result").
`(2) A printed search result certified by the chief executive is evidence of
the matters stated in it.
of documents to which security interest relates
`Copies
`14.(1) The lender must, at the written request of the borrower, give the
borrower a copy of the bill of sale, stock mortgage or lien to which the
interest relates.
Maximum penalty--30 penalty units.
`(2) For subsection (1), the copy must be given--
(a) within 14 days, if the original came into existence 1 year or less
before the request is given; or
(b) within 30 days, if the original came into existence more than
1 year before the request is given.
`(3) The copy may be a computer generated facsimile containing the
same information contained in the original document.
`(4) The lender may charge a reasonable amount for providing the copy,
which must not be more than the actual cost of providing the copy.
of restraining orders
`Registration
`15.(1) A restraining order under the Crimes (Confiscation) Act 1989
made in relation to chattels of a person may be registered.
`(2) Registration of the restraining order has effect for the duration of the
restraining order.
`(3) The chief executive must, on receipt of a request accompanied by a
certified copy of the restraining order, include in the register particulars of
the restraining order for the chattels that may be prescribed under a
regulation.
s6 15 s6
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
for registration of assignment of registered security
`Application
interest
`16.(1) An assignment of a registered security interest may be registered,
but is not required to be registered.
`(2) An application for registration of the assignment of a registered
security interest must be--
(a) made in the way prescribed under a regulation; and
(b) accompanied by the fee that may be prescribed under a regulation.
`(3) The chief executive is not required to inquire into the validity of
information supporting the application.
of assignment of a registered security interest
`Registration
`17.(1) If the chief executive is satisfied that an application for
registration of the assignment of a registered security interest is properly
made, the chief executive must register the assignment by including in the
register particulars of the assignment.
`(2) Applications for registration of assignments of registered security
interests must be registered in the order of time of lodgment with the chief
executive.
of failure to register a security interest
`Effect
`18.(1) An unregistered security interest has no effect against a person
who is not a party to the instrument creating the interest.
`(2) Subsection (1) is subject to section 18B(3).
given from time of registration
`Priority
`18A. A registered security interest has priority, for any title, or right to
possession, to chattels conferred by the interest, according to the time of its
registration.
s6 16 s6
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
of security interests
`Priority
`18B.(1) A registered security interest in chattels ranks in priority over an
unregistered security interest in the same chattels.
`(2) A registered security interest in chattels ranks in priority over another
registered security interest in the same chattels according to the order of
registration.
`(3) An unregistered security interest in chattels ranks in priority over a
registered security interest in the same chattels if--
(a) under the unregistered security interest the lender takes
possession of the chattels; and
(b) the taking of possession happens before the registered security
interest is registered.
`(4) Despite the Property Law Act 1974, section 82,1 the priority given to
a security interest under this section has effect for all amounts, including
further advances, owing by the borrower to the lender under the security
interest.
`(5) Subsections (1), (2), (3) and (4) apply subject to the following--
(a) section 6A(2);2
(b) an express contrary provision in the Corporations Law;
(c) an agreement between the lenders holding the security interests.
`(6) It is declared that the priority given to security interests under this
section applies only to security interests created after the commencement of
this section.
1 Property Law Act 1974, section 82 (Tacking and further advances)
2 Section 6A (Application of Act to bills of sale)
s6 17 s6
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
4--Discharge of registered security interests
`Division
for discharge of registered security interest
`Application
`18C.(1) The lender may apply for the full or partial discharge of a
registered security interest.
`(2) The application must be--
(a) made in the way prescribed under a regulation; and
(b) accompanied by the fee that may be prescribed under a regulation.
`(3) The chief executive is not required to inquire into the validity of
information supporting the application.
`(4) In this section--
"partial discharge", of a registered security interest, means--
(a) a discharge of a borrower under the security interest from the
borrower's performance of a stated part of the borrower's
obligation under the security interest; or
(b) if the security interest relates to a number of chattels--a discharge
of the security interest in relation to any of the chattels.
of discharge of registered security interest
`Registration
`18D. If the chief executive is satisfied that an application for the full or
partial discharge of a registered security interest is properly made, the chief
executive must register the discharge by--
(a) including in the register the particulars that may be prescribed
under a regulation; and
(b) doing anything else that may be prescribed under a regulation.
after interest fully discharged
`Duty
`18E. The lender who holds a registered security interest that is fully
discharged must, within 14 days after the discharge--
s6 18 s6
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
(a) file an application under section 18C3 for the full discharge of the
interest; and
(b) do anything else that may be necessary to effect the registration of
the discharge.
Maximum penalty--20 penalty units.
may seek registration of discharge or change in particulars
`Borrower
`18F.(1) A borrower may, in relation to a registered security interest, ask
the lender--
(a) to file an application under section 18C for the full or partial
discharge of the interest if the interest has been fully or partially
discharged; or
(b) to join with the borrower to file an application under section 18G
to change the particulars included in the register.
`(2) A lender who receives a request under subsection (1) must, within
30 days after receiving the request--
(a) file the application or join with the borrower in filing the
application; or
(b) apply to a Magistrates Court for an order maintaining the
registration.
`(3) If, at the end of the time allowed under subsection (2), the lender has
not complied with subsection (2)(a) or (b), the borrower may ask the chief
executive in the approved form to give the lender a notice under
subsection (4).
`(4) The notice must state that, unless the lender obtains a court order
maintaining the registration before the end of the notice period, at the end of
the notice period--
(a) the discharge will be registered; or
(b) stated particulars will be changed under section 18G.
3 Section 18C (Application for discharge of registered security interest)
s6 19 s6
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
`(5) If a lender who has been given notice under subsection (4) has not--
(a) filed an application for the discharge or the change to particulars
in accordance with the request under subsection (1); or
(b) given the chief executive a copy of a court order maintaining the
registration;
before the end of the notice period, the chief executive must register the
discharge or change the particulars included in the register as requested.
`(6) On application by the lender, the court may make any of the
following orders--
(a) an order that the registration be maintained;
(b) an order that the discharge be registered;
(c) an order that the particulars included in the register be changed;
(d) another order, including an order for costs, the court considers
appropriate.
`(7) In this section--
"notice period" means a period of 30 days after giving a notice under
subsection (4).
5--Changes to register
`Division
to particulars in register
`Changes
`18G.(1) The lender who holds a registered security interest may apply
to the chief executive to change stated particulars included in the register
relating to the interest.
`(2) The application must be--
(a) made in the way prescribed under a regulation; and
(b) accompanied by the fee that may be prescribed under a regulation.
`(3) The chief executive may change the particulars and must include in
the register the date on which the particulars were changed.
`(4) If the change is other than a change of a minor and non-controversial
s6 20 s6
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
nature, the chief executive may require the application to be made jointly by
the lender and borrower.
of errors
`Correction
`18H.(1) This section applies if the chief executive is satisfied that an
error, omission or failure to comply with this Act has happened in relation
to--
(a) a registered security interest; or
(b) the register.
`(2) The chief executive must do everything necessary to correct the
error, omission or failure.
6--Compensation for loss
`Division
of division
`Application
`18I. This division applies if a person suffers loss because--
(a) a security interest in relation to which an application for
registration had been filed with the chief executive had not been
registered; or
(b) particulars of a security interest were incorrectly entered in the
register; or
(c) a registered security interest had been discharged incorrectly
under section 18F; or
(d) a discharge of a security interest under section 18F, of which the
chief executive has notice, had not been included in the register; or
(e) the person--
(i) searches the register for a security interest or particulars of a
security interest; and
(ii) there is an error in the register because of a negligent act or
omission by the chief executive (the "incorrect
information"); and
s6 21 s6
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
(iii) the person relies on the incorrect information contained in a
printed search result issued by the chief executive.
for loss
`Compensation
`18J.(1) A person who suffers loss for a reason stated in section 18I
may apply to the accountable officer for payment of compensation to the
person.
`(2) The accountable officer may make a payment to the applicant under
the Financial Administration and Audit Act 1977, section 106.4
`(3) The accountable officer must not make a payment in relation to a
loss for a reason mentioned in section 18I(d) if the applicant at the time of
suffering the loss--
(a) had actual notice of the security interest; or
(b) had been put on inquiry as to the existence of the security interest
and had abstained from inquiry or further inquiry when the
person might reasonably have expected the inquiry or further
inquiry to reveal the security interest.
`(4) Compensation paid under section 18I(a), (b), (c) or (d) must not be
more than the lesser of the following, worked out as at the time the loss was
suffered--
(a) the amount of the debt or other pecuniary obligation or the value
of any other obligation secured by the security interest;
(b) the value of the chattels in which was held the security interest in
respect of which compensation was applied for.
`(5) In this section--
"accountable officer" means the accountable officer of the department
under the Financial Administration and Audit Act 1977.
4 Financial Administration and Audit Act 1977, section 106 (Losses and special
payments)
s7 22 s8
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
7--General
`Division
executive to be satisfied stamp duty has been accounted for
`Chief
`18K.(1) If an instrument relating to a security interest is chargeable with
stamp duty under the Stamp Act 1894, the chief executive may deal with the
security interest under this Act only if the chief executive is satisfied that
stamp duty on the instrument has been paid or accounted for5 under that
Act.
`(2) The chief executive may assume stamp duty on the instrument has
been paid or accounted for if the person asking the chief executive to deal
with the interest states, in writing, that the stamp duty has been paid or
accounted for under that Act.'.
of s 19 (Contents of instruments)
Amendment
Clause 7. Section 19(1)(a) to (c)--
omit, insert--
`(a) the name and address of each borrower and lender; and
(b) a description of the chattels to which the interest relates, to the
extent to which the chattels are ascertainable; and'.
of s 20 (Instrument to be attested and when registered to
Amendment
have effect of a deed)
Clause 8. Section 20--
insert--
`(1A) However, a person is not excluded from being a witness for
subsection (1) merely because the person is an employee of a party to the
instrument acting in the ordinary course of business.'.
5 See, for example, the Stamp Act 1894, section 13A (Duty accounted for by
returns)
s9 23 s 12
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
of s 22 (Instrument subject to defeasance etc. of no effect in
Omission
certain cases)
Clause 9. Section 22--
omit.
of pt 4, div 1 (Optional registration of assignments of book
Omission
debts)
Clause 10. Part 4, division 1--
omit.
of s 25 (Stock mortgages)
Amendment
Clause 11.(1) Section 25, heading--
omit, insert--
`Stock under stock mortgage are chattels'.
(2) Section 25(1)--
omit.
(3) Section 25(2), `(2)'--
omit.
of s 27 (Stock to include increase of stock etc.)
Amendment
Clause 12.(1) Section 27(1), `A stock mortgage properly registered under this
Act'--
omit, insert--
`A registered security interest in stock under a stock mortgage'.
(2) Section 27(1), after `instrument' (first mention)--
insert--
`creating the security interest'.
(3) Section 27(1), `in it wherever'--
s 13 24 s 14
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
omit, insert--
`in the instrument wherever'.
(4) Section 27(1), `continuance of the security'--
omit, insert--
`continuance of the mortgage'.
of s 30 (Grantor may provide for grantee to have wool
Amendment
from mortgaged sheep)
Clause 13.(1) Section 30, `the registration under this Act of such instrument'--
omit, insert--
`a registered security interest in the sheep under the mortgage'.
(2) Section 30, `to possess a registered lien'--
omit, insert--
`to have a registered security interest in wool under a lien'.
(3) Section 30, after `grantor and'--
insert--
`a security interest in wool under a lien on wool had been'.
(4) Section 30, `lien' (last mention)--
omit, insert--
`registered security interest'.
of s 31 (Liens may be given on crops)
Amendment
Clause 14. Section 31(1A), from `under this Act' to `mentioned'--
omit, insert--
`of a security interest in the crops entitle the lender to the crops to which
the interest relates'.
s 15 25 s 18
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
of s 32 (Savings of existing mortgages etc.)
Amendment
Clause 15.(1) Section 32(2), `lien on crops being registered under this Act'--
omit, insert--
`registered security interest in a crop under a lien on crops'.
(2) Section 32(2), from `described'--
omit, insert--
`, particulars of which are included in the register.'.
of s 33 (Duration of registration of liens on crops)
Omission
Clause 16. Section 33--
omit.
of s 34 (Security may be given over wool)
Amendment
Clause 17. Section 34(1), `under this Act'--
omit, insert--
`of a security interest in the wool under the lien on wool'.
of s 35 (Wool to continue subject to lien despite
Amendment
subsequent sale or mortgage)
Clause 18.(1) Section 35, `lien on wool being registered under this Act'--
omit, insert--
`registered security interest in wool under a lien on wool'.
(2) Section 35, `referred to in the lien'--
omit, insert--
`, particulars of which are included in the register'.
s 19 26 s 21
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
of s 36 (Grantee may take possession and shear sheep
Amendment
subject to the lien if grantor neglects to do so)
Clause 19.(1) Section 36, `subject to a lien'--
omit, insert--
`subject to a registered security interest in wool under a lien'.
(2) Section 36, `registered under this Act'--
omit.
(3) Section 36, `registered lien'--
omit, insert--
`lien'.
of s 37 (Instrument by way of security securing an
Replacement
account current)
Clause 20. Section 37--
omit, insert--
interest securing account current
`Security
`37. The registration of a security interest securing an account current is
not affected merely because the borrower may from time to time be in
credit on the account.'.
of new ss 37A-37C
Insertion
Clause 21. After section 37--
insert--
or misleading statements
`False
`37A.(1) A person must not state anything to an official the person
knows is false or misleading in a material particular.
Maximum penalty--50 penalty units or 1 year's imprisonment.
s 22 27 s 22
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
`(2) It is enough for a complaint for an offence against subsection (1) to
state the statement made was `false or misleading' to the person's
knowledge, without stating which.
or misleading documents
`False
`37B.(1) A person must not give an official a document containing
information the person knows is false or misleading in a material particular.
Maximum penalty--50 penalty units or 1 year's imprisonment.
`(2) Subsection (1) does not apply to a person if the person, when giving
the document--
(a) tells the official, to the best of the person's ability, how it is false
or misleading; and
(b) if the person has, or can reasonably obtain, the correct
information--gives the correct information.
`(3) It is enough for a complaint for an offence against subsection (1) to
state the document was `false or misleading' to the person's knowledge,
without stating which.
from liability
`Protection
`37C.(1) An official does not incur civil liability for an act done, or
omission made, honestly and without negligence under this Act.
`(2) If subsection (1) prevents a civil liability attaching to an official,
liability attaches instead to the State.'.
of s 38 (Delegations)
Replacement
Clause 22. Section 38--
omit, insert--
`Delegations
`38.(1) The chief executive may delegate the chief executive's powers
under this Act to an appropriately qualified officer or employee of the
department.
s 23 28 s 24
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
`(2) In this section--
"appropriately qualified", for a person to whom a power under this Act
may be delegated, includes having the qualifications, experience or
standing appropriate to exercise the power.
Example of `standing'--
A person's classification level in the public service.'.
of s 49 (Registrar is registrar for repealed State Securities
Amendment
Registration Act 1925)
Clause 23.(1) Section 49(4)--
renumber as section 49(2).
(2) Section 49--
insert--
`(3) This section expires 9 years after section 54 commences.'.
of new pt 6
Insertion
Clause 24. After section 49--
insert--
`PART 6--TRANSITIONAL AND SAVING
PROVISIONS
provisions about register
`Transitional
`50.(1) The register of registered instruments kept under the Act
immediately before the commencement is taken to be the register of
security interests kept under section 8.
`(2) This section expires the day after it commences.
s 24 29 s 24
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
provision about registered instruments
`Transitional
`51.(1) Each instrument registered under the Act immediately before the
commencement is taken to be a registered security interest.
`(2) The particulars of each instrument registered in the register of
registered instruments immediately before the commencement are taken to
be included in the register of security interests kept under section 8.
`(3) This section expires the day after it commences.
provision about crop liens
`Transitional
`52.(1) Section 33 of this Act, as in force immediately before the
commencement of this section, continues to have effect after the
commencement but only for deciding when the registration of a lien on
crops executed before the commencement expires.
`(2) This section expires 1 year after it commences.
provision about expiry of liens on wool
`Transitional
`53.(1) A lien on wool registered under this Act immediately before the
commencement of this section expires 1 year after the commencement.
`(2) This section expires 1 year after it commences.
provision about stock mortgages and certain other
`Transitional
securities
`54.(1) This section applies to the following instruments included in the
register kept under this Act before the commencement of this section
("existing instruments")--
(a) stock mortgages;
(b) securities under the repealed State Securities Registration Act
1925.
`(2) Each existing instrument registered under the Act expires as
follows--
(a) if registered before 1 January 1978--6 months after the
s 24 30 s 24
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
commencement;
(b) if registered after 1977 and before 1984--9 months after the
commencement;
(c) if registered in 1984--1 year after the commencement;
(d) if registered in 1985--2 years after the commencement;
(e) if registered in 1986--3 years after the commencement;
(f) if registered in 1987--4 years after the commencement;
(g) if registered in 1988--5 years after the commencement;
(h) if registered in 1989--6 years after the commencement;
(i) if registered in 1990--7 years after the commencement;
(j) if registered in 1991--8 years after the commencement;
(k) if registered in 1992--9 years after the commencement;
(l) if registered in 1993--10 years after the commencement;
(m) if registered in 1994--11 years after the commencement;
(n) if registered in 1995--12 years after the commencement;
(o) if registered in 1996--13 years after the commencement;
(p) if registered in 1997--14 years after the commencement;
(q) if registered after 1997 but before the commencement--15 years
after the commencement.
`(3) This section expires 15 years after the commencement.
of priority--Justice Legislation (Bills of Sale, Stock Mortgages
`Saving
and Liens) Amendment Act 1998
`55.(1) This section applies to registered security interests that
immediately before the commencement of this section were instruments
registered under this Act.
`(2) The rules for deciding priority, including section 7A(2), as in force
immediately before the commencement continue to have effect for deciding
s 25 31 s 26
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
priority of those registered security interests after the commencement.
`(3) This section applies despite section 18B.6'.
ART 3--AMENDMENT OF LIENS ON CROPS OF
P
SUGAR CANE ACT 1931
amended in pt 3
Act
Clause 25. This part amends the Liens on Crops of Sugar Cane Act 1931.
of s 2 (Interpretation)
Amendment
Clause 26.(1) Section 2, heading and words before definition "crop"--
omit, insert--
`Definitions
`2. In this Act--'.
(2) Section 2, definitions "far northern district", "northern district",
"Register", "registrar" and "southern district"--
omit.
(3) Section 2--
insert--
` "official" means the chief executive, or an officer or employee of the
department.
"printed search result" see section 7C.
"register" means the register kept under section 5.
"registered" means included in the register.
"unregistered lien" means a lien that--
6 Section 18B (Priority of security interests)
s 27 32 s 28
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
(a) is not registered under this Act; or
(b) has expired.'.
(4) Section 2, definition "owner of a mill", from `and includes' to
`1914'--
omit.
of new ss 3-3A
Insertion
Clause 27. After section 2--
insert--
of s 2 to certain instruments
`Application
`3. Section 2 applies to instruments made or executed under this Act,
unless the contrary intention appears.
binds all persons
`Act
`3A. This Act binds all persons, including the State, and, so far as the
legislative power of Parliament permits, the other States.'.
of ss 4-7
Replacement
Clause 28. Sections 4 to 7--
omit, insert--
on crop to be created by instrument
`Charge
`4.(1) An owner of a crop may charge the crop as security for the
payment or satisfaction of any debt or liability (whether past or present or
future, and whether vested or contingent), by signed instrument.
`(2) The instrument--
(a) must adequately identify the land on which the crop intended to
be charged is growing or is about to grow; and
(b) must be witnessed.
s 28 33 s 28
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
`Register
`5.(1) The chief executive must keep a register of liens.
`(2) The register must include the following particulars in relation to each
lien included in the register--
(a) the name and address of the lienee and the lienor;
(b) the day and time the particulars are included in the register;
(c) other particulars that may be prescribed under a regulation.
`(3) The lien is "registered" when the particulars are included in the
register.
for registration of lien
`Application
`6.(1) An application for the registration of a lien must be--
(a) made in the way prescribed under a regulation; and
(b) accompanied by the fee that may be prescribed under a regulation.
`(2) The application must include a description of the land to which the
lien relates.
`(3) The chief executive is not required to inquire into the validity of
information supporting the application.
for renewal of registration of lien
`Application
`7.(1) An application for the renewal of registration of a lien must--
(a) be made in the way prescribed under a regulation; and
(b) nominate the day the lien expires; and
(c) be accompanied by the fee that may be prescribed under a
regulation.
`(2) The chief executive is not required to inquire into the validity of
information supporting the application.
`(3) The registration of a lien must be renewed before the registration
expires.
s 28 34 s 28
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
or renewal of registration, of lien
`Registration,
`7A.(1) If the chief executive is satisfied that an application for the
registration, or renewal of the registration, of a lien is properly made, the
chief executive must register, or renew the registration of, the lien by
including in the register the relevant particulars mentioned in section 5(2).
`(2) Applications for registration, or renewal of registration, of liens must
be registered in the order of time of lodgment with the chief executive.
of registration
`Expiry
`7B.(1) A registration of a lien after the commencement of this section
expires on the day nominated by the lienee in the application for registration
as the day the lien expires.
`(2) In this section--
"registration" includes renewal of registration.
the register
`Inspecting
`7C.(1) A person may, on payment of the fee that may be prescribed
under a regulation--
(a) inspect the register at an office of the department prescribed under
a regulation when the prescribed office is open to the public; and
(b) take extracts from, or obtain a copy of details in, the register (a
"printed search result").
`(2) A printed search result certified by the chief executive is evidence of
the matters stated in it.
of instrument creating lien
`Copies
`7D.(1) The lienee must, at the written request of the lienor, give the
lienor a copy of the instrument creating the lien.
Maximum penalty--30 penalty units.
`(2) For subsection (1), the copy must be given--
s 28 35 s 28
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
(a) within 14 days, if the original came into existence 1 year or less
before the request is given; or
(b) within 30 days, if the original came into existence more than
1 year before the request is given.
`(3) The copy may be a computer generated facsimile containing the
same information contained in the original document.
`(4) The lienee may charge a reasonable amount for providing the copy,
which must not be more than the actual cost of providing the copy.
for registration of assignment of registered lien
`Application
`7E.(1) An assignment of a registered lien may be registered, but is not
required to be registered.
`(2) An application for registration of the assignment of a registered lien
must be--
(a) made in the way prescribed under a regulation; and
(b) accompanied by the fee that may be prescribed under a regulation.
`(3) The chief executive is not required to inquire into the validity of
information supporting the application.
of assignment of a registered lien
`Registration
`7F.(1) If the chief executive is satisfied that an application for
registration of the assignment of a registered lien is properly made, the chief
executive must register the assignment by including in the register
particulars of the assignment.
`(2) Applications for registration of assignments of registered liens must
be registered in the order of time of lodgment with the chief executive.
of failure to register lien
`Effect
`7G.(1) An unregistered lien has no effect against a person who is not a
party to the instrument creating the lien.
`(2) Subsection (1) is subject to section 7I(3).
s 28 36 s 28
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
given from time of registration
`Priority
`7H. A registered lien has priority, for any title to, or right to possession
of, crops conferred by the lien, according to the time of its registration.
of liens
`Priority
`7I.(1) A registered lien over a crop ranks in priority over an unregistered
lien over the same crop.
`(2) A registered lien over a crop ranks in priority over another registered
lien over the same crop according to the order of registration.
`(3) An unregistered lien over a crop ranks in priority over a registered
lien over the same crop if--
(a) under the unregistered lien the lienee takes possession of the crop;
and
(b) the taking of possession happens before the registered lien is
registered.
`(4) Despite the Property Law Act 1974, section 82,7 the priority given to
a lien under this section has effect for all amounts, including further
advances, owing by the lienor to the lienee under the lien.
`(5) Subsections (1), (2), (3) and (4) apply subject to the following--
(a) section 12;8
(b) an express contrary provision in the Corporations Law;
(c) an agreement between the lienees holding the liens.
`(6) It is declared that the priority given to registered liens under this
section applies only to liens created after the commencement of this section.
for discharge of registered lien
`Application
`7J.(1) The lienee may apply for the full or partial discharge of a
7 Property Law Act 1974, section 82 (Tacking and further advances)
8 Section 12 (Provisions as to priority where 2 or more liens given)
s 28 37 s 28
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
registered lien.
`(2) The application must be--
(a) made in the way prescribed under a regulation; and
(b) accompanied by the fee that may be prescribed under a regulation.
`(3) The chief executive is not required to inquire into the validity of
information supporting the application.
`(4) In this section--
"partial discharge", of a registered lien, means--
(a) a discharge of a lienor under the lien from the lienor's
performance of a stated part of the lienor's obligation under the
lien; or
(b) if the lien relates to a number of crops--a discharge of the lien in
relation to any of the crops.
of discharge of registered lien
`Registration
`7K. If the chief executive is satisfied that an application for a full or
partial discharge of a registered lien is properly made, the chief executive
must register the discharge by--
(a) including in the register the particulars that may be prescribed
under a regulation; and
(b) doing anything else that may be prescribed under a regulation.
after lien fully discharged
`Duty
`7L. The lienee under a registered lien at the time the lien is fully
discharged must, within 14 days after the lien is fully discharged--
(a) file an application under section 7J9 for the full discharge of the
lien; and
(b) do anything else that may be necessary to effect the registration of
9 Section 7J (Application for discharge of registered lien)
s 28 38 s 28
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
the discharge.
Maximum penalty--20 penalty units.
may seek registration of discharge or change in particulars
`Lienor
`7M.(1) A lienor may, in relation to a registered lien, ask the lienee--
(a) to file an application under section 7J for the full or partial
discharge of the lien if the lien has been fully or partially
discharged; or
(b) to join with the lienor to file an application under section 7N to
change the particulars in the register.
`(2) A lienee who receives a request under subsection (1) must, within
30 days after receiving the request--
(a) file the application or join with the lienor in filing the application;
or
(b) apply to a Magistrates Court for an order maintaining the
registration.
`(3) If, at the end of the time allowed under subsection (2), the lienee has
not complied with subsection (2)(a) or (b), the lienor may ask the chief
executive in the approved form to give the lienee a notice under
subsection (4).
`(4) The notice must state that, unless the lienee obtains a court order
maintaining the registration before the end of the notice period, at the end of
the notice period--
(a) the discharge will be registered; or
(b) stated particulars will be changed under section 7N.
`(5) If a lienee who has been given notice under subsection (4) has not--
(a) filed an application for the discharge or the change to particulars
in accordance with the request under subsection (1); or
(b) given the chief executive a copy of a court order maintaining the
registration;
before the end of the notice period, the chief executive must register the
s 28 39 s 28
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
discharge or change the particulars included in the register as requested.
`(6) On application by the lienee, the court may make any of the
following orders--
(a) an order that the registration be maintained;
(b) an order that the discharge be registered;
(c) an order that the particulars included in the register be changed;
(d) another order, including an order for costs, the court considers
appropriate.
`(7) In this section--
"notice period" means a period of 30 days after giving a notice under
subsection (4).
to particulars in register
`Changes
`7N.(1) A lienee may apply to the chief executive to change stated
particulars included in the register relating to the lien.
`(2) The application must be--
(a) made in the way prescribed under a regulation; and
(b) accompanied by the fee that may be prescribed under a regulation.
`(3) The chief executive may change the particulars and must include in
the register the date on which the particulars were changed.
`(4) If the change is other than a change of a minor and non-controversial
nature, the chief executive may require the application to be made jointly by
the lienee and lienor.
of errors
`Correction
`7O.(1) This section applies if the chief executive is satisfied that an
error, omission or failure to comply with this Act has happened in relation
to--
(a) a registered lien; or
(b) the register.
s 28 40 s 28
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
`(2) The chief executive must do everything necessary to correct the
error, omission or failure.
of compensation provision
`Application
`7P. Section 7Q applies if a person suffers loss because--
(a) a lien in relation to which an application for registration had been
filed with the chief executive had not been registered; or
(b) particulars of a lien were incorrectly entered in the register; or
(c) a lien had been discharged incorrectly under section 7M; or
(d) a discharge of a lien under section 7M, of which the chief
executive has notice, had not been included in the register; or
(e) the person--
(i) searches the register for a lien or particulars of a lien; and
(ii) there is an error in the register because of a negligent act or
omission by the chief executive (the "incorrect
information"); and
(iii) the person relies on the incorrect information contained in a
printed search result issued by the chief executive.
for loss
`Compensation
`7Q.(1) A person who suffers loss for a reason stated in section 7P may
apply to the accountable officer for payment of compensation to the person.
`(2) The accountable officer may make a payment to the applicant under
the Financial Administration and Audit Act 1977, section 106.10
`(3) The accountable officer must not make a payment in relation to a
loss for a reason mentioned in section 7P(d) if the applicant, at the time of
suffering the loss--
(a) had actual notice of the lien; or
10 Financial Administration and Audit Act 1977, section 106 (Losses and special
payments)
s 29 41 s 29
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
(b) had been put on inquiry as to the existence of the lien and had
abstained from inquiry or further inquiry when the person might
reasonably have expected the inquiry or further inquiry to reveal
the lien.
`(4) Compensation paid in relation to an application mentioned in
section 7P(a), (b), (c) or (d) must not be more than the lesser of the
following, worked out as at the time the loss was suffered--
(a) the amount of the debt or other pecuniary obligation or the value
of any other obligation secured by the lien;
(b) the value of the crop to which the lien for which compensation
was applied for relates.
`(5) In this section--
"accountable officer" means the accountable officer of the department
under the Financial Administration and Audit Act 1977.
executive to be satisfied stamp duty has been accounted for
`Chief
`7R.(1) If an instrument relating to a lien is chargeable with stamp duty
under the Stamp Act 1894, the chief executive may deal with the lien under
this Act only if the chief executive is satisfied that stamp duty on the
instrument has been paid or accounted for11 under that Act.
`(2) The chief executive may assume stamp duty on the instrument has
been paid or accounted for if the person asking the chief executive to deal
with the lien states, in writing, that the stamp duty has been paid or
accounted for under that Act.'.
of s 9 (Application of proceeds of sugarcane)
Amendment
Clause 29.(1) Section 9(1)(a), from `section 8.12' to `1991'--
omit, insert--
11 See, for example, the Stamp Act 1894, section 13A (Duty accounted for by
returns)
s 30 42 s 33
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
`the Sugar Industry Act 1991, section 12912'.
(2) Section 9(1)(c) and (g), `under the Wages Act 1918 or otherwise'--
omit, insert--
`for wages or otherwise'.
of s 10 (Restriction as to continuance of lien)
Omission
Clause 30. Section 10--
omit.
of s 11 (Further provisions regarding liens)
Amendment
Clause 31. Section 11, from `unless renewed'--
omit, insert--
`unless renewed under section 7.13'.
of s 12 (Provisions as to priority where 2 or more liens
Amendment
given)
Clause 32. Section 12(2)--
omit, insert--
`(2) However, subsection (1) does not affect the priority of a lien whose
registration is renewed because of section 13(1).'.
of s 13 (Renewal of liens)
Replacement
Clause 33. Section 13--
omit, insert--
12 Sugar Industry Act 1991, section 129 (Mill owner may harvest sugarcane)
13 Section 7 (Application for renewal of registration of lien)
s 34 43 s 36
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
of harvesting crop on lien
`Effect
`13.(1) A lien over a crop that, when the lien expires, has not been fully
harvested, may be renewed under section 7.
`(2) However, if the crop covered by a lien is fully harvested when the
lien expires under section 7B,14 it is not necessary to renew the lien for the
lien to remain effective against the proceeds of the crop.'.
of s 14 (Provision as to renewal of liens)
Omission
Clause 34. Section 14--
omit.
of s 16 (Priority)
Amendment
Clause 35.(1) Section 16, heading--
omit, insert--
`Application of proceeds of crop to costs of sugarcane protection etc.'.
(2) Section 16(1) and (1A)--
omit, insert--
`16.(1) This Act is subject to the Workplace Relations Act 1997,
chapter 9, part 2.15'.
of s 17 (Production of lien to owner of mill)
Replacement
Clause 36.(1) Section 17--
omit, insert--
of lien to be given to mill owner
`Notice
`17.(1) This section applies if--
14 Section 7B (Expiry of registration)
15 Workplace Relations Act 1997, chapter 9 (Records and wages), part 2 (Wages
and occupational superannuation)
s 37 44 s 38
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
(a) a lienee holds a lien over a crop that is growing, or will be grown,
on land all or part of which is assigned to a mill under the Sugar
Industry Act 1991; and
(b) the lien is registered; and
(c) the lienee after the registration, or the renewal, transfer or
assignment of the registration, gives to the owner of the mill a
certified printed search result relating to the registration, renewal,
transfer or assignment.
`(2) The lienee or the assignee under the lien is entitled to be paid from
the proceeds of the crop then next available the amount secured by the lien
to the extent the proceeds allow.
`(3) If the lien is discharged, the lienee must give to the owner of the mill
a certified printed search result relating to the discharge of the registration as
soon as possible after the discharge is registered.
`(4) The owner of the mill is not affected by the registration, renewal,
assignment, transfer or discharge of the lien until a certified printed search
result relating to the registration, renewal, assignment, transfer or discharge
is given to the owner by the lienee.
`(5) In this section--
"assignee" includes a transferee.'.
of ss 18-22
Omission
Clause 37. Sections 18 to 22--
omit.
of s 23 (Non-application of Bills of Sale Act etc.)
Amendment
Clause 38. Section 23(2)--
omit, insert--
`(2) The provisions of this Act relating to registration do not apply to any
lien on crops of sugarcane given by any person to the Crown as defined by
the repealed State Securities Registration Act 1925 and the provisions of the
s 39 45 s 39
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
repealed Act relating to those liens continue to have effect.
`(3) Also, for deciding priority under this Act between or among liens, a
lien registered under the repealed State Securities Registration Act 1925 is
taken to be registered under this Act.
`(4) Subsections (2) and (3) and this subsection expire 10 years after the
commencement of this subsection.'.
of s 23A (Delegations)
Replacement
Clause 39. Section 23A--
omit, insert--
or misleading statements
`False
`23A.(1) A person must not state anything to an official the person
knows is false or misleading in a material particular.
Maximum penalty--50 penalty units or 1 year's imprisonment.
`(2) It is enough for a complaint for an offence against subsection (1) to
state the statement made was `false or misleading' to the person's
knowledge, without stating which.
or misleading documents
`False
`23B.(1) A person must not give an official a document containing
information the person knows is false or misleading in a material particular.
Maximum penalty--50 penalty units or 1 year's imprisonment.
`(2) Subsection (1) does not apply to a person if the person, when giving
the document--
(a) tells the official, to the best of the person's ability, how it is false,
misleading or incomplete; and
(b) if the person has, or can reasonably obtain, the correct
information--gives the correct information.
`(3) It is enough for a complaint for an offence against subsection (1) to
state the document was `false or misleading' to the person's knowledge,
without stating which.
s 40 46 s 40
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
from liability
`Protection
`23C.(1) An official does not incur civil liability for an act done, or
omission made, honestly and without negligence under this Act.
`(2) If subsection (1) prevents a civil liability attaching to an official,
liability attaches instead to the State.
`Delegations
`23D.(1) The chief executive may delegate the chief executive's powers
under this Act to an appropriately qualified officer or employee of the
department.
`(2) In this section--
"appropriately qualified", for a person to whom a power under this Act
may be delegated, includes having the qualifications, experience or
standing appropriate to exercise the power.
Example of `standing'--
A person's classification level in the public service.'.
of new ss 26-30
Insertion
Clause 40. After section 25--
insert--
provisions about register
`Transitional
`26.(1) The register of liens on sugarcane kept under this Act
immediately before the commencement of this section from the
commencement continues as the register of liens kept under section 5.
`(2) This section expires the day after it commences.
provision about registered instruments
`Transitional
`27.(1) Each instrument registered under this Act immediately before the
commencement of this section is taken to be a registered lien.
`(2) The particulars of each lien registered in the register of liens on
s 40 47 s 40
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
sugarcane immediately before the commencement are taken to be included
in the register of liens kept under section 5.
`(3) This section expires the day after it commences.
provisions about existing liens
`Transitional
`28.(1) This section applies to each instrument registered under this Act
before the commencement of this section ("existing liens").
`(2) Each existing lien expires as follows--
(a) if registered in 1993--5 years after the commencement;
(b) if registered in 1994--6 years after the commencement;
(c) if registered in 1995--7 years after the commencement;
(d) if registered in 1996--8 years after the commencement;
(e) if registered in 1997--9 years after the commencement;
(f) if registered after 1997 but before the commencement--10 years
after the commencement.
`(3) This section expires 10 years after the commencement.
provision about expiry of registered liens
`Transitional
`29.(1) Section 10(2) of this Act, as in force immediately before the
commencement of this section, from the commencement continues to have
effect, but only for deciding when the registration of a lien executed before
the commencement expires.
`(2) This section expires 2 years after it commences.
of priority--Justice Legislation (Bills of Sale, Stock Mortgages
`Saving
and Liens) Amendment Act 1998
`30.(1) This section applies to registered liens that immediately before the
commencement of this section were instruments registered under this Act.
`(2) The provisions of this Act for deciding priority, as in force
immediately before the commencement, continue to have effect for deciding
s 40 48 s 40
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
priority of those registered liens after the commencement.
`(3) This section applies despite section 7I.16'.
16 Section 7I (Priority of liens)
49
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
CHEDULE
¡S
MINOR AMENDMENTS TO BILLS OF SALE AND
OTHER INSTRUMENTS ACT 1955
section 3
1. Section 6(1), definition "bill of sale", paragraph (b), `and
transfers'--
omit.
2. Section 6(1), definition "bill of sale", paragraph (i), `grantor'--
omit, insert--
`borrower'.
3. Section 6(1), definition "bill of sale", paragraph (l), `grantor'--
omit, insert--
`borrower'.
4. Section 6(1), definition "book debts", `or transfer'--
omit.
5. Section 6(1), definition "executed", `grantor'--
omit, insert--
`borrower'.
50
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
SCHEDULE (continued)
6. Section 6(1), definition "executed", `grantor's'--
omit, insert--
`borrower's'.
7. Section 6(1), definition "executed", `grantee'--
omit, insert--
`lender'.
8. Section 6(1), definition "executed", `grantee's'--
omit, insert--
`lender's'.
9. Sections 6(2) and (2A), 27, 29(1), 30, 31(1A), 32(3), 34(1), 36, 45(1),
schedule 4, sections 1 to 4, schedule 5, sections 1, 2, 3, 4 and 5 and
schedule 6, `grantee'--
omit, insert--
`lender'.
10. Sections 6(2A), 21, 27(1), 29(1), 30, 32(3), 34(1), 35, 36, 39, 45(2),
schedule 4, sections 1 to 4, schedule 5, section 1, 3, 4 and 5 and
schedule 6, `grantor'--
omit, insert--
`borrower'.
11. Section 20(1), `a transfer'--
omit, insert--
`an assignment'.
51
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
SCHEDULE (continued)
12. Section 23, `sections 21 and 22'--
omit, insert--
`section 21'.
13. Section 42, `grantors'--
omit, insert--
`borrowers'.
14. Section 42, `grantees'--
omit, insert--
`lenders'.
15. Section 49, heading, `Registrar'--
omit, insert--
`Chief executive'.
16. Section 49(1), `registrar under this Act'--
omit, insert--
`chief executive'.
17. Schedule 5, sections 1, 3, 4 and 5, `grantee's'--
omit, insert--
`lender's'.
52
Justice Legislation (Bills of Sale, Stock
Mortgages and Liens) Amendment
SCHEDULE (continued)
18. Schedule 5, sections 1 and 3 and schedule 6 `grantor's'--
omit, insert--
`borrower's'.
© State of Queensland 1998
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