Personal Property Securities (Amendment) Act 2012
Act No. 22 of 2012
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PERSONAL PROPERTY SECURITIES
(AMENDMENT) ACT 2012
Personal Property Securities (Amendment) Act
2012 Arrangement of Sections
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Act No. 22 of 2012 Page 3
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PERSONAL PROPERTY SECURITIES
(AMENDMENT) ACT 2012
Arrangement of Sections
Section
1 Short Title .............................................................................................................. 5
2 Section 8 amended – Collateral and collateral description .................................... 5
3 Section 23 amended – Buyers of collateral ............................................................ 6
4 Section 24 amended – Lessees of goods and buildings ......................................... 6
Personal Property Securities (Amendment) Act 2012 Section 1
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Act No. 22 of 2012 Page 5
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PERSONAL PROPERTY SECURITIES
(AMENDMENT) ACT 2012
Act No. 22 of 2012
AN ACT TO AMEND THE PERSONAL PROPERTY SECURITIES ACT
2010
I assent,
TUPOU VI,
21
st
November 2012.
BE IT ENACTED by the King and Legislative Assembly of Tonga in the
Legislature of the Kingdom as follows:
1 Short Title
(1) This Act may be cited as the Personal Property Securities (Amendment) Act
2012.
(2) In this Act, the Personal Property Security Act 2010 is referred to as the
Principal Act.
(3) This Act shall come into force on a day proclaimed by His Majesty in
Council.
2 Section 8 amended – Collateral and collateral description
Section 8(2) is amended by inserting the following subsection —
“2A Where the collateral is a building, the land upon which the building is located
must be described either by the book and folio or lease number assigned to the
Section 3 Personal Property Securities (Amendment) Act 2012
Page 6 Act No. 22 of 2012
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land by the Ministry of Lands, or by other means that the Registrar considers
sufficient to allow the location of the land to be determined.”.
3 Section 23 amended – Buyers of collateral
Section 23(4)(b)(ii) of the Principal Act is amended as follows:
(a) (i) in the English version only, insert the words “land upon which the”
after the first occurrence of the word “the”;
(ii) in the Tongan version only, insert the words “kelekele ‘a ia na’e” after
the first occurrence of the word “’a e”:
(b) (i) in the English version only, insert the word “located was” after the first
occurrence of the word “was”;
(ii) in the Tongan version only, insert the words “tu’u ai ‘a e” after the
second occurrence of the word “na’e”:
(c) after the first occurrence of the word “registry” insert a fullstop (.) and delete
the remainder of this subsection.
4 Section 24 amended – Lessees of goods and buildings
Section 24(3)(b) of the Principal Act is amended as follows:
(a) (i) in the English version only, insert the words “land upon which the”
after the first occurrence of the word “the”;
(ii) in the Tongan version only, insert the words “kelekele ‘a ia na’e” after
the first occurrence of the word “’a e”:
(b) (i) in the English version only, insert the word “located was” after the first
occurrence of the word “was”;
(ii) in the Tongan version only, insert the words “tu’u ai ‘a e” after the
second occurrence of the word “na’e”:
(c) after the first occurrence of the word “registry” insert a fullstop (.) and delete
the remainder of this subsection.
Passed by the Legislative Assembly on this 12
th
day of October 2012.