Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The registered owner of a registered design may, subject to any rights appearing in the Register to be vested in another person, deal with the registered owner's interest in the design as absolute owner of it, and give good discharges for any consideration for such dealing.
(2) However, subsection (1) does not protect a person who deals with the registered owner of a registered design otherwise than as a purchaser in good faith for value and without notice of any fraud on the part of the registered owner.
(2 A ) Despite subsection (1), the recording in the Register of a right that is a PPSA security interest does not affect a dealing with an interest in a registered design.
(3) Equities in relation to a registered design may be enforced against the registered owner, except to the prejudice of a purchaser in good faith for value.
(4) Subsection (3) does not apply in relation to an equity that is a PPSA security interest.
Note: The Personal Property Securities Act 2009 deals with the rights of purchasers of personal property (including intellectual property such as designs) that is subject to PPSA security interests. That Act also provides for the priority and enforcement of PPSA security interests. See the following provisions of that Act:
(a) Part 2.5 (taking personal property free of security interests);
(b) Part 2.6 (priority between security interests);
(c) Chapter 4 (enforcement of security interests).