Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This Act applies to a security interest in goods or financial property if:
(a) the location of the goods or property is in Australia; or
(b) the grantor is an Australian entity.
Note: For when personal property is located in a jurisdiction, see section 235.
(1A) This Act applies to a security interest in an intermediated security if:
(a) the intermediary in relation to the intermediated security is located in Australia; or
(b) the grantor is an Australian entity.
Note: For when a person is located in a jurisdiction, see section 235.
(2) This Act applies to a security interest in intangible property if:
(a) the grantor is an Australian entity; or
(b) the intangible property is an account that is payable in Australia; or
(c) the security interest is an interest of a transferor under a transfer of intangible property that consists of an account or chattel paper, and:
(i) the transferor is an Australian entity; or
(ii) the account or chattel paper is payable in Australia; or
(d) the intangible property is an ADI account; or
(e) the intangible property is created, arises or is provided for by either or both of the following:
(i) a law of the Commonwealth, a State or a Territory;
(ii) the general law (to the extent to which it applies in Australia, a State or a Territory).
Note: For the application of Australian and foreign law in relation to a security interest, see Part 7.2.