35JCreation of charge on property

#### 35J Creation of charge on property (1) If: (a) a foreign restraining order against property has been registered under Subdivision A of Division 2; and (b) a foreign pecuniary penalty order has been made against the person in reliance on the person’s conviction, or alleged commission, of: (i) the foreign serious offence in relation to which the foreign restraining order was made; or (ii) a related foreign serious offence; and (c) the foreign pecuniary penalty order has been registered under Subdivision A of Division 2; the registration of the foreign restraining order or the foreign pecuniary penalty order (whichever last occurs) creates, by force of this section, a charge on the property to secure the payment of an amount to the Commonwealth. (2) The amount is to be the amount that would be the penalty amount under the Proceeds of Crime Act if the foreign pecuniary penalty order were a pecuniary penalty order under that Act. (3) The charge: (a) is subject to every encumbrance on the property that came into existence before the charge and that would, apart from this subsection, have priority; and (b) has priority over all other encumbrances; and (c) subject to section 35K, is not affected by any change of ownership of the property. (4) Subsection 73(2) of the Personal Property Securities Act 2009 applies to the charge (to the extent, if any, to which that Act applies in relation to the property charged). > Note 1: The effect of this subsection is that the priority between the charge and a security interest in the property to which the Personal Property Securities Act 2009 applies is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009. > Note 2: Subsection 73(2) of the Personal Property Securities Act 2009 applies to charges created by this section after the commencement of subsection (4) (which is at the registration commencement time within the meaning of the Personal Property Securities Act 2009).