Laws
Secured Transactions Act
Part
s 46

In force2022 Revised EditionCurrent version · 2022 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)

Contents

Secured Transactions Act

Find in this Act

Preliminary

1Citation
2Application of Act
3Interpretation
4Act binds Government

Administration

5Appointment of Registrar and other officers
6Collateral Registry
7Register of personal property security
8Seal of Registry
9Registrar may refuse to provide certain services relating to register

Security Agreements

10Effectiveness of security agreement
11Description of collateral in security agreement

Perfection of Security Interests

12Perfection of security interest
13Continuity of perfection

Security Interests in Personal Property

14Security interests in after-acquired property
15Security interests in proceeds
16Continuous perfection of security interests in proceeds
17Temporary perfection of security interests in proceeds in other cases
18Temporary perfection of security interests in negotiable instruments or investment securities
19Temporary perfection of security interests in negotiable documents of title or goods
20Perfection where goods in hands of bailee
21Security interests in crops

Part 6

22Priority of security interests in same collateral
23Transfer of security interests does not affect priority
24Voluntary subordination of security interests
25Priority of security interests to all advances
26Priority of purchase money security interests in collateral etc. or its proceeds
27Non-proceeds security interests in accounts receivable
28Security interests in accessions
29Priority of security interests in goods before they become accessions
30Continuation of security interests in processed or commingled goods
31Limit on value of priority of processed or commingled goods
32Priority where more than one security interest continues in processed or commingled goods
33Priority of purchase money security interests in goods that continue in processed or commingled goods
34Rights of debtor may be transferred
35General priority of security interests in transferred collateral over security interests granted by transferee
36Transfer of debtor’s interest in collateral with prior consent of secured party

Special Priority Rules

37Lien has priority over security interests relating to same goods
38Transferee takes money free of security interest
39Priority of creditor who receives payment of debt
40Priority of purchaser of negotiable instrument, document of title, chattel paper and security certificate
41Priority of interests on assignment of account receivable or non-negotiable chattel paper
42Judgment creditor has priority over unperfected security interests
43Buyer or lessee takes collateral free of unperfected security interests
44Buyer or lessee of goods sold or leased in ordinary course of business takes goods free of certain security interests

Registration

45Person may register financing statement
46Financing statement or financing change statement not registered
47Registration of financing statement
48Verification statement
49Authorisation to register financing statement or financing change statement
50Validity of registration
51Duration of registration
52Renewal of registration
53Registration of transfer of perfected security interests
54Registration of subordinated security interests
55Amendment or discharge of registration
56Discharge of registration relating to consumer goods
57Debtor may demand registration of financing change statement
58
58A
59Search in register
60Offences on registration and search
61Search certificate as evidence

Enforcement of Security Interests

62Application of this Part
63General principle of enforceability
64Secured party may render collateral unusable
65Secured party may apply certain collateral in satisfaction of secured obligation
66Collateral at risk
67Repair and preparation of collateral
68Duty of secured party selling collateral
69Power of sale applies to document of title and related goods
70Method of sale of collateral
71Notice of sale of collateral
72Buyer of collateral takes free of security interests
73Secured party to give statement of account to debtor
74Secured party selling collateral to pay prior ranking secured parties
75Distribution of surplus
76Surplus may be paid into Court
77Proposal of secured party to retain collateral
78Persons entitled to notice may object to proposal
79Person making objection may be requested by secured party to prove interest
80Position where persons entitled to notice do not object to retention of collateral by secured party
81Secured party shall not damage goods when removing accession
82Entitled persons may redeem collateral
83Debtor may reinstate security agreement
84Limit on reinstatement of security agreement

General

85Damages
86Secured party to provide certain information relating to security interests
87Service of documents etc.
88General penalty
89Composition of offences
90Offences by body corporate
91Overriding effect
92Regulations

Secured Transactions Act · 2022 Revised Edition · Part · Registration

46. Financing statement or financing change statement not registered

No plain-English summary for s 46 yet. See the rest of this law

Official textFrom Attorney General's Chambers, unchanged

A financing statement or financing change statement shall not be registered if —

financing statement

Defined · s 3

“financing statement” means forms in writing or their electronic equivalent as provided in the regulations on which information is provided in order to effect, amend, terminate or continue a registration;

Open s 3

(a)

it is not submitted in the manner and form as the Registrar may determine that enables the information to be entered directly by electronic means into the register; or

Registrar

Defined · s 3

“Registrar” means the Registrar of Collateral Registry appointed under section 5 and includes any Deputy Registrar of Collateral Registry;

Open s 3

(b)

the prescribed fee has not been paid to the Registrar, unless arrangements for its payment have been made in accordance with the regulations.

regulations

Defined · s 3

“regulations” means the regulations made under this Act;

Open s 3

Terms defined in s 3

financing change statement
Defined · s 3
“financing change statement” means the data required or authorised by this Act or the regulations to be entered in the register to renew, discharge, or otherwise amend a financing statement;
Open s 3
financing statement
Defined · s 3
“financing statement” means forms in writing or their electronic equivalent as provided in the regulations on which information is provided in order to effect, amend, terminate or continue a registration;
Open s 3
Registrar
Defined · s 3
“Registrar” means the Registrar of Collateral Registry appointed under section 5 and includes any Deputy Registrar of Collateral Registry;
Open s 3
regulations
Defined · s 3
“regulations” means the regulations made under this Act;
Open s 3

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Enforcement of Security Interests

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General

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Details

Secured Transactions Act · s 46

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Where this comes from

Attorney General's Chambers · Secured Transactions Act, 2022 Revised Edition. Reader record updated on 2 Oct 2026.

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