Senate Committee Recommends Delay And Simplification Of
Personal Property Securities (PPS)
As mentioned in our January 2009 Update, the Senate
Committee on Legal and Constitutional Affairs (Committee) conducted
an Inquiry into the Exposure Draft of the Personal Property
Securities Bill 2008 (Bill). DLA Phillips Fox appeared before the
Committee to put forward those matters identified in our review of
the Bill which we felt required further consideration. On 19 March
2009, the Committee released its report.
Committee recommends delay of 12 months or more
The Committee acknowledged that the Bill contains significant
and complex legal changes which require a greater degree of input
from both industry and the legal profession before they can be
embraced by the commercial community. As a result, the Committee
suggested that the introduction of the Bill be delayed at least
until May 2011. This should enable the recommendations of the
Committee to be implemented and
