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 introduced new concepts and requirements.
Due to the significance of the PPS Act, it is very important that all businesses:
The PPS Act introduced 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 our latest publication(s) the PPS Act:
Introduction to Personal Property Securities, May 2012
Hastie Group: A warning against PPS complacency
For further information on PPS contact Murray Colvin, Special Counsel.
