Personal Property Securities Amendment Act 2007

Personal Property Securities Amendment Act 2007

Public Act2007 No 72
Date of assent19 September 2007
Note

This Act is administered by the Ministry of Economic Development.

The Parliament of New Zealand enacts as follows:

1 Title

  • This Act is the Personal Property Securities Amendment Act 2007.

2 Commencement

  • This Act comes into force on the day after the date on which it receives the Royal assent.

3 Principal Act amended

  • This Act amends the Personal Property Securities Act 1999.

4 Contents of register

  • (1) Section 140 is amended by repealing paragraph (a) and substituting the following paragraph:

    • “(a) if the debtor is an individual, the debtor's name, address, and date of birth or, if the debtor is an organisation,—

      • “(i) the name and address of the organisation; and

      • “(ii) the name or job title, and contact details, of the person acting on its behalf:”.

    (2) Section 140 is amended by repealing paragraph (c) and substituting the following paragraph:

    • “(c) if the secured party is an individual, the secured party's name and address or, if the secured party is an organisation,—

      • “(i) the name and address of the organisation; and

      • “(ii) the name or job title, and contact details, of the person acting on its behalf:”.

5 Data required to register financing statement

  • (1) Section 142(1) is amended by repealing paragraphs (a) and (b) and substituting the following paragraph:

    • “(a) if the debtor is an individual, the debtor's name, address, and date of birth or, if the debtor is an organisation,—

      • “(i) the name and address of the organisation; and

      • “(ii) the name or job title, and contact details, of the person acting on its behalf:”.

    (2) Section 142(1) is amended by repealing paragraph (d) and substituting the following paragraph:

    • “(d) if the secured party is an individual, the secured party's name and address or, if the secured party is an organisation,—

      • “(i) the name and address of the organisation; and

      • “(ii) the name or job title, and contact details, of the person acting on its behalf:”.

6 Search criteria

  • Section 172 is amended by repealing paragraph (b) and substituting the following paragraph:

    • “(b) the name and address of the debtor or, if the debtor is an organisation, the name and address of the organisation and the name or job title, and contact details, of the person acting on its behalf:”.

7 Search purposes, etc

  • (1) Section 173 is amended by inserting the following paragraph after paragraph (k):

    • “(ka) the Registrar for a purpose that relates to any of the functions, duties, and powers exercisable by the Registrar in relation to this Act:”.

    (2) Section 173(l) is amended by omitting “(k)” and substituting “(ka)”.

Legislative history

11 September 2007Divided from Statutes Amendment Bill (Bill 107-2) by committee of the whole House
11 September 2007Third reading