sec.58Show cause notices about improperly registered security interests

sec.58 Show cause notices about improperly registered security interests

This section applies to the following matters— a notice in relation to a security interest given to a person by the chief executive under section 18A (2) of the existing Act, if the period stated in the notice had not expired before the repeal (an existing show cause notice ); the proposed removal by the chief executive of the particulars of a security interest included in the register following the giving of a notice under section 18A (5) of the existing Act, if the person had a right to apply to a Magistrates Court for an order maintaining the registration immediately before the repeal (an existing appeal decision ); an application to a Magistrates Court for an order maintaining the registration of the security interest that is pending, but not finally decided, immediately before the repeal (an existing appeal ). Despite the repeal of section 18A of the existing Act, the following provisions apply— the chief executive may deal with the existing show cause notice under section 18A (4) ; the existing appeal decision may be the subject of an application to a Magistrates Court and may be dealt with by the court under the existing Act; an existing appeal may be decided by the Magistrates Court under the existing Act; as soon as practicable after the chief executive decides whether the interest is a security interest, the chief executive must give the PPS registrar written notice of the decision. (sec.58-ssec.1) This section applies to the following matters— a notice in relation to a security interest given to a person by the chief executive under section 18A (2) of the existing Act, if the period stated in the notice had not expired before the repeal (an existing show cause notice ); the proposed removal by the chief executive of the particulars of a security interest included in the register following the giving of a notice under section 18A (5) of the existing Act, if the person had a right to apply to a Magistrates Court for an order maintaining the registration immediately before the repeal (an existing appeal decision ); an application to a Magistrates Court for an order maintaining the registration of the security interest that is pending, but not finally decided, immediately before the repeal (an existing appeal ). (sec.58-ssec.2) Despite the repeal of section 18A of the existing Act, the following provisions apply— the chief executive may deal with the existing show cause notice under section 18A (4) ; the existing appeal decision may be the subject of an application to a Magistrates Court and may be dealt with by the court under the existing Act; an existing appeal may be decided by the Magistrates Court under the existing Act; as soon as practicable after the chief executive decides whether the interest is a security interest, the chief executive must give the PPS registrar written notice of the decision.