The Personal Property Securities Act 2009 says in order
for a producer to maintain an interest in goods supplied to
someone, it is necessary to register the interest on the Personal
Properties Security Register.
A question we encounter frequently is what does registering an
interest in property on the PPSR actually do?
In order to attract the protection of the act, there must first
be a security agreement. In its simplest form, this is a contract,
an agreement between parties in respect of collateral or goods -
grapes, grain, livestock or plant and equipment - that enables a
person to register an interest in the goods on the PPSR.
It is an important, but sometimes overlooked, requirement that a
security agreement must be in writing for the registration on the
PPSR to have any effect.
