1. Definitions and the pari passu rule 1.1 Introduction -- 1.2 The Rationale behind the avoidance provisions -- 1.3 The Legislative deficiencies -- 1.4 The Meaning of securities -- 1.5 Over what property may a security interest be given? -- 1.6 Security interests in other jurisdiction -- 1.7 The Meaning of insolvent -- 1.8 Presumptions of insolvency -- 1.9 Conclusion -- 2. Corporations law 2.1 Position before the Corporate Law Reform Act 1992 -- 2.2 Position subsequent to the Corporate Law Reform Act -- 2.3 The New provisions -- 2.4 Sections 266 and 267 of the Corporations -- 2.5 Romalpa clauses and registrable charges -- 2.6 The Interaction between the voidable transaction provisions and duties of directors -- 2.7 Jurisdictional considerations -- 2.8 Provisions which avoid charges under the Corporations Law: the effect on secured creditors and receivers -- 2.9 Conclusion -- 3. Bankruptcy Act 3.1 The Current legislation -- 3.2 Sections 120, 121 and 122 of the Bankruptcy Act 1966 before amendment -- 3.3 Time limitation provisions -- 3.4 Bankruptcy Legislation Amendment Bill 1995 -- 3.5 Bankruptcy Legislation Amendment Bill/Act 1996 -- 3.6 Conclusion -- 4. Other invalidating legislation 4.1 Introduction -- 4.2 Sections 228 and 229 of the Property Law Act 1974 (Qld) -- 4.3 Proposed amendments to personal property securities legislation -- 4.4 The Consumer Credit Code -- 4.5 The Trade Practices Act 1974 (Cth) -- 4.6 Contracts Review Act 1980 (NSW) -- 5. Common theme - summary of legislative deficiencies 5.1 Is there a common theme with the avoidance provisions? -- 5.2 Corporations law -- 5.3 Provisions which avoid charges under the Corporations law: the effect on secured creditors and receivers -- 5.4 Bankruptcy Act -- 5.5 Other invalidating legislation -- 5.6 Summary
Summary
This title is a systematic and critical examination of the many and varied statutory provisions which may operate to invalidate securities taken by credit-providers when a borrower runs into financial difficulties. The subject matter is topical in view of the current climate of rising interest rates
