Victorian Numbered Acts

TRANSPORT LEGISLATION (AMENDMENT) ACT 2004 (NO 110 OF 2004) - SECT 3

    (1)     In section 19 of the Chattel Securities Act 1987 —

        (a)     for "fourteen days" substitute "7 days";

        (b)     at the foot of the section insert —

"Penalty: 5 penalty units.".

    (2)     At the end of section 19 of the Chattel Securities Act 1987 insert —

    "(2)     If a registered security interest is to be discharged or extinguished by a payment made by cheque or a credit facility, for the purposes of this section the discharge or extinguishment only occurs when the cheque is honoured or the person to whom the credit payment is made receives the amount of the payment in a form that the person can use.".

__________________

See:
Act No.
107/1995.
Reprint No. 5
as at
31 December 2002
and amending
Act Nos
59/2003, 94/2003, 12/2004 and 49/2004.
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