ARTICLE · 08 MARCH 2012

PPSA and the construction industry – a practical guide

Gadens Lawyers

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If you take a security interest over any personal property, you must now register that interest to ensure your priority.

AustraliaEnvironment

The Personal Property Securities Act 2009 (PPSA) has come into effect and the online register which it establishes is now live. The PPSA aims to consolidate and standardise the registration of securities over personal property through a single online register. This article focuses on the impact of this new scheme on the construction industry and provides practical recommendations for principals and contractors in relation to registration and amending their transaction documents.

Broad overview of the PPSA

If you take a security interest over personal property, you must now register that interest to ensure your priority. Companies can no longer rely on legal ownership to protect their interest in goods.

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