Don't be misled by the name! The commencement of the Personal Property Securities Act 2009 (PPS Act) on 30 January 2012 requires reassessment of commercial and corporate practices at a level not seen since the introduction of GST.
Rather than simply codifying existing rules, the PPS Act introduces new concepts and requirements which lead to different outcomes when compared to the current law.
Due to the significance of the PPS Act, it is very important that all businesses quickly:
The PPS Act introduces fundamental change to Australian commerce by establishing a new statutory framework for determining property ownership rights and priorities between competing security interests in all forms of property (other than land and certain specific exclusions).
Please click below to download publications on the PPS Act:
Introduction to Personal Property Securities
Personal Property Securities Alert, March 2011
Personal Property Securities Act Alert, June 2011
Personal Property Securities Act - The Art of Lending
Personal Property Securities Act - Delayed into 2012
Personal Property Securities Act - Implications for Trade Credit
Personal Property Securities Act - Commencement Date
If you would like to receive a copy of our "Personal Property Securities: Glossary" please email Murray Colvin.
Rob Lister
- Principal
Murray Colvin
- Special Counsel
