Chapter 6 - Other technical matters
The fact that the committee felt that the timeframe for the inquiry was
too short to fully investigate the exposure draft bill has been mentioned
elsewhere in this report. One of the ramifications of this is that there were a
range of matters relating to the bill of potential interest to the committee
that have not been considered.
Although these aspects of the exposure draft bill have not been analysed
for the purpose of the inquiry, as this inquiry relates to an exposure draft the
committee thought there would be some benefit in identifying them for the
Senate, the Department and anyone else with an interest in personal property
securities who may wish to provide comments to the Department for
Some of the topics that the committee would have liked to consider
- the draft provisions relating to purchased money security
- the draft provisions relating to all present and after
- the interaction of the draft bill with the Consumer Credit Code;
- the draft transitional provisions.
Suggestions for technical amendments to be made to the bill
Submissions to the inquiry made numerous suggestions for amendments to
the bill, and many of these were quite technical. The committee also has not
had time to consider many of these in detail.
The Department advised the committee that staff members "have
certainly considered all the submissions that we have received thus far, and
also we have taken the liberty of considering all the submissions that you have
received and published on your website."
Again, the committee thought there would be some benefit in consolidating
them in once place for the Senate, the Department and anyone else with an
interest in personal property securities who may wish to provide comments to
the Department for consideration. A table containing many of these suggestions is
at Appendix 3. The suggestions are drawn directly from many of the submissions
made to the committee. Unfortunately there was not time to ensure that the
table includes all of matters brought to the committee's attention.
Senator Trish Crossin
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