Does your business supply goods? Do you lease or hire out
equipment, goods or other property? Do you take security deposits
or bond payments in your line of business? Are you thinking of
buying a business?
If you answered yes to any of these questions then it is likely
that the new Personal Property Securities Act 2009 affects
your business and you could run the risk of losing out if you do
not adequately protect your interests under the new laws.
The new laws
On 30 January 2012 the new Personal Property Securities Act
2009 (the new PPS laws) came into force, reforming the laws
and registers dealing with securities over personal property. Each
state and territory previously had its own laws which have now been
brought together under one national system and online register
called the Personal Property Securities Register (PPS Register).
This register will also include company charges which were
previously registered at ASIC.
