ARTICLE · 08 SEPTEMBER 2012

Carbon emissions just got personal

DibbsBarker

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The PPSA has been amended to include emissions units as personal property, to be registered as a PPSA security interest.

AustraliaFinance and Banking

Amanda Bull

Jeff Baker (Formerly With DibbsBarker)

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Focus: Personal Property Securities Act 2009 (Cth)
Services: Financial Services
Industry Focus: Energy, Resources & Infrastructure, Financial Services

Introduction

On 1 July 2012, the Personal Property Securities Act 2009 (Cth) (PPSA) was amended to include emissions units within the definition of personal property. That means emission units can be the subject of a PPSA security interest.

Financiers and other secured parties will need to be aware of the implications of the new carbon pricing mechanism for their customers' businesses and if they intend to take security over the emission units, to follow the requirements under the PPSA to effectively create and perfect any such interests.

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