Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The interest of an execution creditor in collateral has priority over any security interest in the same collateral that is not perfected at the time covered by subsection (4) (even if such a security interest is later perfected).
(2) To avoid doubt, an execution creditor does not include a landlord who exercises a right of distress.
(3) This section applies despite any other section in this Part.
Time of seizure or execution
(4) This subsection covers the following times:
(a) if the collateral is seized by the execution creditor or by another person on behalf of the execution creditor--the time of seizure;
(b) in any other case--the time when:
(i) an order is made by a court in respect of a judgment in relation to the execution creditor; or
(ii) a garnishee order is made in relation to the execution creditor.