Personal Property Securities (Ancillary Provisions) Act 2010
sec.59Show cause notices about cancellation of registered security interests that have been discharged or extinguished
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sec.59 Show cause notices about cancellation of registered security interests that have been discharged or extinguished
This section applies to a notice in relation to a security interest given to a person by the chief executive under section 20 of the existing Act, if the period stated in the notice had not expired before the repeal (also an existing show cause notice ). Despite the repeal of section 20 of the existing Act, the following provisions apply— the chief executive may deal with the existing show cause notice under section 20 ; as soon as practicable after the chief executive decides whether the registration should have been cancelled, the chief executive must give the PPS registrar written notice of the decision. (sec.59-ssec.1) This section applies to a notice in relation to a security interest given to a person by the chief executive under section 20 of the existing Act, if the period stated in the notice had not expired before the repeal (also an existing show cause notice ). (sec.59-ssec.2) Despite the repeal of section 20 of the existing Act, the following provisions apply— the chief executive may deal with the existing show cause notice under section 20 ; as soon as practicable after the chief executive decides whether the registration should have been cancelled, the chief executive must give the PPS registrar written notice of the decision.
- (a) the chief executive may deal with the existing show cause notice under section 20 ;
- (b) as soon as practicable after the chief executive decides whether the registration should have been cancelled, the chief executive must give the PPS registrar written notice of the decision.