{"id":"F2011L02722","name":"Personal Property Securities (Priority of Statutory Interests) Instrument 2011","slug":"personal-property-securities-priority-of-statutory-interests-instrument-2011","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":89098,"registerId":"commonwealth-F2011L02722-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Personal Property Securities (Priority of Statutory Interests) Instrument 2011","content":"![Commonwealth Coat of Arms](image.001.png)\n\nPersonal Property Securities (Priority of Statutory Interests) Instrument 20111\n\nPersonal Property Securities Act 2009\n\nI, ROBERT McCLELLAND, Attorney‑General, make this Instrument under subsection 73 (4) of the Personal Property Securities Act 2009.\n\nDated 8 December 2011\n\nROBERT McCLELLAND\n\nAttorney‑General\n\n  \n\n1 Name of Instrument\n\nThis Instrument is the Personal Property Securities (Priority of Statutory Interests) Instrument 2011.\n\n2 Commencement\n\nThis Instrument commences on 30 January 2012.\n\n3 Definitions\n\nIn this Instrument:\n\n> Act means the Personal Property Securities Act 2009.\n\n4 Priority between security interests and declared statutory interests\n\nFor subsection 73 (4) of the Act, subsection 73 (2) of the Act applies to:\n\n(a) a lien that arises under subsection 443F (1) of the Corporations Act 2001; and\n\n(b) a lien that arises under subsection 189AC (2) of the Bankruptcy Act 1966.\n\n> Note\n\n> Note: 1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument performs exactly the narrow function described in its enabling provision (subsection 73(4) of the Personal Property Securities Act 2009). It declares which statutory interests are subject to the priority rules in section 73(2). There is no scope creep — it addresses precisely the two liens specified without expanding into broader policy areas."},"complexity_factors":["Extremely short — only 4 operative sections","Only 1 defined term ('Act')","No nested conditional logic or cross-referencing beyond basic statutory citations","Single substantive provision (section 4) with straightforward declarative effect","No exceptions, exemptions, or transitional provisions"],"plain_english_summary":"This instrument resolves priority between ordinary registered security interests (like a bank's PPSR security) and two statutory liens — the liquidator’s lien under the Corporations Act and the trustee’s lien under the Bankruptcy Act. It declares that section 73(2) of the Personal Property Securities Act applies to those liens, meaning in many cases the liquidator or trustee’s lien will take priority over earlier-registered security interests. It matters to lenders, liquidators, trustees and anyone dealing with insolvent companies or bankrupt individuals."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This Instrument implements the power in the Personal Property Securities Act 2009 (s73(4)) by declaring that subsection 73(2) applies to two statutory liens (Corporations Act s443F(1) and Bankruptcy Act s189AC(2)) (Instrument s4). It does not alter the substantive content of s73(2) or the underlying lien provisions; it merely brings those specific statutory interests within the PPSA priority rule. A reader must consult the cited subsections for the substantive priority mechanics."},"complexity_factors":["Narrow, focused change: single operative clause that applies an existing PPSA priority rule to two specific statutory liens (Instrument s4).","Cross‑legislation references: depends on the Personal Property Securities Act 2009 (ss73(2), 73(4)), Corporations Act 2001 (s443F(1)) and Bankruptcy Act 1966 (s189AC(2)); understanding requires checking those external provisions.","Legal technicality: effect is legal/priority classification rather than substantive rights — requires knowledge of PPSA priority mechanics.","Low administrative discretion: Minister uses power under Act s73(4) to declare application; instrument contains no ongoing regulatory procedures or compliance regime.","Implementation timing: fixed commencement (30 January 2012) creates a clear temporal cut‑off for application."],"plain_english_summary":"This Instrument says that the priority rule in subsection 73(2) of the Personal Property Securities Act 2009 will apply to two specific statutory liens: the lien at Corporations Act s443F(1) and the lien at Bankruptcy Act s189AC(2). It changes how those lien-holders and competing secured parties rank against PPSA security interests, so it matters for who gets paid first when the same personal property is claimed by multiple parties."}},"importantCases":[],"_links":{"self":"/api/acts/personal-property-securities-priority-of-statutory-interests-instrument-2011","history":"/api/acts/personal-property-securities-priority-of-statutory-interests-instrument-2011/history","analysis":"/api/acts/personal-property-securities-priority-of-statutory-interests-instrument-2011/analysis","conflicts":"/api/acts/personal-property-securities-priority-of-statutory-interests-instrument-2011/conflicts","importantCases":"/api/acts/personal-property-securities-priority-of-statutory-interests-instrument-2011/important-cases","documents":"/api/acts/personal-property-securities-priority-of-statutory-interests-instrument-2011/documents"}}