Serial Numbered Goods | PMSI | Trusts | Description
of Goods | Timeframes for Registration against Companies | Lien |
Banking Covenants | Tidying up your own House
The Personal Property Securities Act 2009 (Cth)
("PPSA") has been in force for over a
year now and many businesses are just starting to realise the
significant effect it has on the way business is transacted. In
this Alert, we have outlined a number of areas where the PPSA
impacts on clients in a variety of industries.
Serial Numbered Goods
Motor vehicles, boats, trade marks and patents are some of the
assets that MAY be described by serial number in a PPSA
Registration. Does this mean you have to register by serial number?
The answer is an emphatic Yes! Under the PPSA a purchaser will take
free of any security interest if a search by serial number alone
will not disclose a registration. That means where assets MAY be
described by serial number (basically any type of vehicle or
towable machine and a
