NZQA registered unit standard 17702 version 4 Page 1 of 3 Title Demonstrate knowledge of the Personal Property Securities Act Level 5 Credits 5 Purpose People credited with this unit standard are able to: – explain the nature of the legislation; – describe the creation and enforceability of personal property security interests; – describe the determination of priority of personal property security interests; and – explain the requirements of the Personal Property Securities Register. Classification Financial Management > Credit Management Available grade Achieved Explanatory notes 1 The legislation means the Personal Property Securities Act 1999, its amendments and any regulations and their amendments issued as part of this Act. 2 Register means the Personal Property Securities Register and any regulations regarding its operation. Outcomes and evidence requirements Outcome 1 Explain the nature of the legislation. Evidence requirements 1.1 The purpose and background of the legislation is identified. Range 1.2 intention of present legislation, previous legislation replaced. Terminology used in the legislation is defined. Range The Skills Organisation SSB Code 100401 includes but is not limited to – attachment, perfection, security interest, possession, knowledge, accounts receivable, chattel paper, commercial consignment, consumer goods, debtor, intangibles, investment security, commingled goods, accessions, perfected money security interest. New Zealand Qualifications Authority 2016 NZQA registered unit standard 1.3 17702 version 4 Page 2 of 3 Coverage of the legislation is described. Range includes but is not limited to – provisions where the legislation does not apply, previous legislation replaced by the current legislation. Outcome 2 Describe the creation and enforceability of personal property security interests. Evidence requirements 2.1 Attachment and perfection of security interests are explained in terms of general and particular kinds of personal property. 2.2 Provisions relating to goods free of security interest are interpreted. Range general provisions, additional provisions relating to motor vehicles. 2.3 Enforcement of security interests is described in accordance with the legislation. 2.4 Communication provisions are explained. Range availability of information, service of notices. Outcome 3 Describe the determination of priority of personal property security interests. Evidence requirements 3.1 Priority of general security interests as defined in the legislation is described. 3.2 Priority of particular types of security interest is described. Range advances, purchase money, accessions, processed or commingled goods, other interests in collateral as defined in legislation. Outcome 4 Explain the requirements of the Personal Property Securities Register. Evidence requirements 4.1 Register requirements for financing statements are explained. Range 4.2 documentation, registration, amendment, discharge, monitoring, expiry. Procedures for searches of the Register are explained in terms of the legislation. The Skills Organisation SSB Code 100401 New Zealand Qualifications Authority 2016 NZQA registered unit standard Planned review date 17702 version 4 Page 3 of 3 31 December 2019 Status information and last date for assessment for superseded versions Process Version Date Last Date for Assessment Registration 1 28 August 2000 31 December 2016 Review 2 28 June 2005 31 December 2017 Rollover and Revision 3 18 July 2008 31 December 2017 Rollover and Revision 4 19 May 2016 N/A Consent and Moderation Requirements (CMR) reference 0121 This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do. Please note Providers must be granted consent to assess against standards (accredited) by NZQA, before they can report credits from assessment against unit standards or deliver courses of study leading to that assessment. Industry Training Organisations must be granted consent to assess against standards by NZQA before they can register credits from assessment against unit standards. Providers and Industry Training Organisations, which have been granted consent and which are assessing against unit standards must engage with the moderation system that applies to those standards. Requirements for consent to assess and an outline of the moderation system that applies to this standard are outlined in the Consent and Moderation Requirements (CMRs). The CMR also includes useful information about special requirements for organisations wishing to develop education and training programmes, such as minimum qualifications for tutors and assessors, and special resource requirements. Comments on this unit standard Please contact The Skills Organisation at reviewcomments@skills.org.nz if you wish to suggest changes to the content of this unit standard. The Skills Organisation SSB Code 100401 New Zealand Qualifications Authority 2016