The introduction of the Personal Property Securities Act 2009 (PPSA), and commencement of the Personal Property Securities Register (PPSR), on 30 January 2012 has significantly changed the way security is taken over personal property. The PPSA applies to almost all forms of tangible and intangible property owned by any type of legal entity and, because of its broad reach, requires a reassessment of commercial and corporate practices at a level not seen since the introduction of GST.
Due to the significance of the PPSA, it is very important that all businesses:
Key provisions of the PPSA that currently protect some unregistered security interests will come to an end on 30 January 2014. If businesses have been relying on these transitional provisions, they need to take action now or risk automatically losing their rights.
Please click below to download our latest publications on the PPSA: