Commonwealth Consolidated Acts

PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 105

Act applies to intellectual property rights etc.

  (1)   This Act applies to intellectual property rights (including rights exercisable under an intellectual property licence), in relation to goods, in the same way as it applies to the goods, if:

  (a)   the exercise by a secured party of rights in relation to the goods arising under a security agreement necessarily involves an exercise of the intellectual property rights; and

  (b)   the payment or obligation secured by the security interest is (in addition) secured by a security interest that is attached to the intellectual property rights.

Description of goods taken to include a description of intellectual property rights

  (2)   For the purposes of this Act, if a registration perfects the security interest in goods mentioned in subsection   (1), the following descriptions are taken to include a description of the intellectual property rights concerned, or of an intellectual property licence required to exercise those rights:

  (a)   a description of the goods in the security agreement;

  (b)   the registered description of the goods;

  (c)   a description of the goods included in a notice under this Act.

  (3)   Subsection   (2) applies subject to a contrary intention in the security agreement, registration or notice.