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ARTICLE · 20 NOVEMBER 2023

PPSA reforms – Change on the Horizon

Bartier Perry Solicitors
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A key focus of the proposed PPSA reforms is to reduce the complexity of the PPS Register.

AustraliaCorporate/Commercial Law
Rebecca Hegarty
Rebecca Hegarty
Karen Wong
Karen Wong
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The Australian Government is proposing to implement a number of amendments to the Personal Property Securities Act 2009 (Cth) (PPSA) and its accompanying Personal Property Securities Regulations 2010 (Cth) (Regulations). It is said the reforms "will achieve a clearer, more consistent, and more accessible PPS framework".

Background

The PPSA commenced on 30 January 2012, introducing a national regime for the creation, registration and enforcement of personal property securities. While the intent behind the legislation was to simplify securities law by replacing over 70 Commonwealth, state and territory laws and 40 registers, since its commencement, there have been numerous concerns raised by industry stakeholders about the overall complexity of the PPSA.

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