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Notice of Proposal to Retain Collateral

Approved form under section 135 of the Personal Property Securities Act 2009 (Cth).

This notice is used by a secured party where they propose to retain seized collateral, unless the obligation secured by the collateral is performed or the amount secured by the collateral is paid.

In these circumstances, the secured party would send this notice to the grantor and state the date by which they must comply.

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