Protect your security interests before the PPSA’s transitional provisions end

With less than 12 months before the Personal Property Securities Act's transitional provisions end, you should ensure that any security interests you have been granted that were created before 30 January 2012 are properly protected on the PPSR.

Partner Paul Cullen and associate Llon Riley outline the transitional provisions in place and explain the consequences of failing to properly protect your transitional security interests.

What does this mean for you and your business?

• The Personal Property Securities Act 2009 (Cth) (PPSA) introduces substantive changes to the laws that govern security interests in personal property and the methods used to protect them. Merely taking a security interest over another person's property or retaining title to your own property will no longer be adequate to protect your interests. In many instances, you will need to take the additional step of registering that interest on the Personal Property Securities Register (PPSR).