Securing personal property for credit is an integral part of Australian business and is now nationally regulated by thePersonal Property Securities Act (PPSA).
The PPSA provides for the obtaining of a ‘security interest’ over most tangible and intangible non-land property and is accessible online at any time. Generally, a security interest is given as security under a:
The PPSA was a significant law reform that came into effect on 30 January 2012 and created a national register called the Personal Property Securities Register (PPSR). The PPSR now records over seven million consumer and commercial registrations and is a useful tool for consumers and businesses alike.
The PPSA is important to most businesses, and is particularly important to businesses who:
We can assist in bringing your business in line with the PPSA through advising on:
Securing interests are often the subject of litigation. When this happens, it is important that you have a proper understanding of the applicable laws.
Generally, disputes in relation to the PPSA will arise in relation to:
For further Information on the PPSA see:
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