Is your business prepared for personal property securities reform?

The new national personal properties security scheme is due to commence in October 2011 and will have widespread impact on the way businesses record and conduct their commercial transactions. The reform promises to merge more than 40 separate Australian wide security registers into a uniform and functionally consistent national registration system.

Will your business be affected?

If your commercial dealings involve any one of the following security interests, your business will inevitably be affected by the introduction of the Personal Property Securities Act 2009 ('PPSA'):

• Fixed and floating charges
• Conditional sale agreements, including agreements to sell subject to a retention of title ('ROT')