Personal Property Securities Amendment Act 2011 Commencement Order 2021

2021/83

Coat of Arms of New Zealand

Personal Property Securities Amendment Act 2011 Commencement Order 2021

Patsy Reddy, Governor-General

Order in Council

At Wellington this 19th day of April 2021

Present:
The Right Hon Jacinda Ardern presiding in Council

This order is made under section 2 of the Personal Property Securities Amendment Act 2011 on the advice and with the consent of the Executive Council.

Order

1 Title

This order is the Personal Property Securities Amendment Act 2011 Commencement Order 2021.

2 Commencement of section 5 of Personal Property Securities Amendment Act 2011

To the extent that it relates to section 167A(1)(b)(iv) of the Personal Property Securities Act 1999, section 5 of the Personal Property Securities Amendment Act 2011 comes into force on 20 May 2021.

Michael Webster,


Clerk of the Executive Council.

Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order brings into force section 5 of the Personal Property Securities Amendment Act 2011 (the Amendment Act) on 20 May 2021 to the extent that it relates to section 167A(1)(b)(iv) of the Personal Property Securities Act 1999.

The effect of the order is that all of section 167A (as inserted by the Amendment Act) and all of the Amendment Act, which relates to financing change statements, is now in force.

Section 167A was inserted in the Personal Property Securities Act 1999 by section 5 of the Amendment Act. Subsection (1)(b)(iv) was dependent on a change being made to the rule-making powers prescribed in the Senior Courts Act 2016 and then to the High Court Rules 2016 governing the seizure and sale of personal property. The first change was made through the Senior Courts Act 2016. The second change is made by the High Court (Personal Property Securities) Amendment Rules 2021.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 22 April 2021.

This order is administered by the Ministry of Business, Innovation, and Employment.