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ARTICLE · 06 DECEMBER 2011

Does PPSA have any unintended adverse consequences to your business?

This update highlights "find and claim" procedures relevant to an existing charge or other registered security interest.

AustraliaFinance and Banking

With the Personal Property Securities Act (2009) (Cth) (PPSA) to commence on 30 January 2012, now, more than ever, it is necessary to consider the practical issues associated with its commencement. Does PPSA have any unintended adverse consequences to your business?

One practical matter from a secured party's perspective is the impact of the migration process relating to security interests currently registered on a number of registers in Australia, including the ASIC charges register.

In this update we highlight the find and claim procedures relevant to any party which has the benefit of an existing charge or other registered security interest which becomes a migrated security interest after the commencement of the PPSA.

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