Chattels Transfer.

Hokitika Guardian, 4 November 1922, Page 3

Chattels Transfer.

I.MPORTANI .AMENDING Bibb. The Chattels Transfer Act Amendment Bill, contains some amendments that have been sought by the auctioneers and the stock and station agents as a result of certain rulings under the existing law. A clause piovidos that upon the cxl ir. tion of the time, or extended time for registration, an uniegistered security over chattels shall not he effective as against any bona, lido purchaser ol hid, longer for valuable consideration, or as against any pel's.in dealing with the chattels as auctioneer or dealer of a cut in the ordinaly course of his business.

Section 2(> of the Chattels Transfer Act provides that a security over stock shall include the natural increase of the stock and all branded stock depastured on the land mentioned in the instillment.

The Bill strengthens the security by providing that it shall hold good even if the stuck is removed from the land mentioned in the instrument. Another clause strengthens the security over wool. It provides that if under any registered instrument Me grantee shall he entitled t > require the grantor to give a security over wool growing or to grow upon the sheep subject to the instrument, then during the subsistence of the registration (f the original instrument, the grantee shall Ik> deemed to possess a lien, over the clip in terms of the covenant, just as if the instrument of security had actually been executed and registered.