New Zealand Legislation: Acts

28 Temporary perfection of security interest in collateral moved to New Zealand in other cases

• (1) A security interest in collateral that is moved to New Zealand is temporarily perfected until the expiration of 30 working days after the day on which the collateral was moved to New Zealand, if the security interest was not perfected under the law of the jurisdiction in which the collateral was situated when the security interest attached.

  (2) If a security interest referred to in section 26 is not perfected under the law of the jurisdiction in which the collateral was situated when the security interest attached and before the collateral was brought into New Zealand, it may be perfected under this Act.

  Compare: Personal Property Security Act 1993 s 5(5) (Saskatchewan)

  Section 28(1): amended, on 15 April 2004, by section 10 of the Personal Property Securities Amendment Act 2004 (2004 No 30).