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