Secured Transactions Act · s 19

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s 19Temporary perfection of security interests in negotiable documents of title or goods

A security interest in a negotiable document of title or goods held by a bailee that are not covered by a negotiable document of title or goods shall be temporarily perfected within 10 working days after the secured party made the negotiable document of title or goods available to the debtor, if —

(a)

the security interest was perfected by possession; and

(b)

the secured party delivered the negotiable document of title or goods for the purposes of sale, exchange, loading, unloading, storing, shipping, manufacturing, processing, packaging or otherwise dealing with the goods in preparation for their sale or exchange.