The Personal Property Securities Act

The Personal Property Securities Act

The Personal Property Securities Act 2009 (Cth) ("PPSA") is now expected to come into effect in October 2011. All financiers and businesses that supply goods to their customers or distributors, on the basis that they retain title until payment is made, are at risk if they do not appropriately prepare for the PPSA.

What is the PPSA and how will it affect you and your business?

The PPSA is a Commonwealth Act that became law at the end of 2009.

The PPSA replaces over 70 pieces of law in relation to "security interests" in "personal property". Personal property is not just consumer property; it is all forms of property other than land and certain statutory licences. Commercial equipment and stock are common examples of personal property.

Click here to read more about the The Personal Property Securities Act.