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ARTICLE · 08 SEPTEMBER 2015

Registering on the Personal Property Securities Register (PPSR)

Watkins Tapsell
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Many businesses are still unaware of how the PPSR works or underestimate the risks in not getting registration correct..

AustraliaCorporate/Commercial Law
Deva Saraswati
Deva Saraswati
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THE RISKS OF GETTING IT WRONG

If you provide goods on credit, retention of title is not enough. To protect your business, you must:

Ensure that your terms and conditions are up to date, and include the right to register a security interest; and

  • Register your security interest on the PPSR; and
  • Make sure that you register using the correct details and the correct property as security; and
  • Register within the time limits, which vary depending on the nature of the security interest.

The Personal Property Securities Act (Cth) 2009 (PPSA) has been in place since 2012, but our Business Lawyers find a lot of businesses are not aware of how it works or underestimate the risks in not getting it right.

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