Personal Property Securities Bill 2009: An Overview

Key Points:
All forms of security interests over property other than land and certain limited categories of assets such as water rights will be governed by the new personal property securities regime.

The Personal Property Securities Bill 2009 (PPS Bill) will, when it becomes law, create a comprehensive national regime for personal property securities. These securities range from fixed and floating charges over the assets of companies, to share mortgages, to security interests over cars to finance leases of plant and equipment and cover many other interests. All forms of security interests over property other than land and certain limited categories of assets such as water rights will be governed by the new regime.