Section 2

This Act shall apply to every bill of sale, whether the same is absolute or subject or not subject to any trust whereby the holder or grantee has power, either with or without notice and either immediately or at any future time, to seize or take possession of any personal chattels comprised in or made subject to such bill of sale, but shall not, except as in this Act expressly mentioned, apply to any mortgages or debentures issued by any incorporated company and secured upon the stock or goods, chattels, and effects of such company.

This Act shall not apply to a bill of sale executed at any time on or after 1 May 2009 to the extent that any interest therein is capable of being registered under the International Interests in Aircraft Equipment Act 2009.

In subsection (2), “registered” has the same meaning as in section 2(1) of the International Interests in Aircraft Equipment Act 2009.