2. Application of this Act

(1)

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.

(2)

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.

(3)

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

Terms defined in s 3

bill of sale
Defined · s 3
“bill of sale” includes bills of sale, assignments, transfers, declarations of trust without transfer, inventories of goods with receipt thereto attached, or receipts for purchase moneys of goods, and other assurances of personal chattels, and also powers of attorney, authorities, or licences to take possession of personal chattels as security for any debt, and also any agreement, whether intended or not to be followed by the execution of any other instrument, by which a right in equity to any personal chattels, or to any charge or security thereon, shall be conferred, but does not include the following documents:(a)assignments for the benefit of the creditors of the person making or giving the same;(b)antenuptial marriage settlements;(c)transfers or assignments of any ship or vessel or any share thereof;(d)transfers of goods in the ordinary course of business of any trade or calling;(e)bills of sale of goods in foreign parts or at sea;(f)bills of lading, warehouse-keeper’s certificates, warrants or orders for the delivery of goods, or any other documents used in the ordinary course of business as proof of the possession or control of goods, or authorising or purporting to authorise, either by endorsement or by delivery, the possessor of such documents to transfer or receive goods thereby represented;
Open s 3
personal chattels
Defined · s 3
“personal chattels” means goods, furniture and other articles capable of complete transfer by delivery, and trade machinery as hereinafter defined, and, when separately assigned or charged, fixtures and growing crops; but does not include chattel interests in real estate nor fixtures, except trade machinery as hereinafter defined, when assigned together with a freehold or leasehold interest in any land or building to which they are affixed, nor growing crops when assigned together with any interest in the land on which they grow, nor shares or interests in the stocks, funds or securities of any government or in the capital or property of incorporated or joint-stock companies nor choses in action;
Open s 3

Report

Read on from s 3

Schedules

Read on from Schedules