Western Australian Current Acts Western Australian Current Acts (1) A charge created
on property under section 123(1) —
(a) is
subject to every encumbrance on the property that came into existence before
the charge and that would, apart from this subsection, have priority over the
charge; and
(b) has
priority over all other encumbrances; and
(c)
subject to section 124, is not affected by any change of ownership of the
property.
(2) In accordance with
the Personal Property Securities Act 2009 (Commonwealth) section 73(2)(a), it
is declared that section 73(2) of that Act applies to a charge created on
property under section 123(1).
[Section 125 amended: No. 42 of 2011 s. 15.]