Late last year, we wrote about the need for primary producers
with an interest in goods supplied to someone to register the
interest on the Personal Properties Securities Register so that
they could obtain the protecions provided by the Personal
Properties Securities Act 2009.
Those protections include maintaining an interest in the goods
supplied and being given a priority interest in those goods ahead
of others who may have registered an interest in goods held by that
person or company.
You can think of the PPSR as the equivalent of writing your name
on an esky before lending it to someone.
Thankfully, most producers are aware of the need to register the
interest on the PPSR to protect what is being supplied and ensured
that they are not left empty handed.
