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ARTICLE · 26 NOVEMBER 2011

New National Online Register for Securities over Personal Property

Barry Nilsson
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The PPSA will introduce a national online register of securities over personal property.

AustraliaFinance and Banking
Freeda Stevenson
Freeda Stevenson
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New National Online Register for Securities over Personal Property

In December 2009 the Commonwealth government passed the Personal Property Securities Act 2009 (Cth) (PPSA). In recognition of the substantial changes to the regime for securing rights over personal property, the PPSA does not commence until early next year. The delayed commencement of the PPSA was designed to enable the creation of the Personal Property Securities Register (PPSR) and to facilitate changes to business practices.

The purpose of the PPSA is to:

  1. replace numerous pieces of Commonwealth and State legislation and registers by creating a single set of national rules governing the validity, priorities, enforcement and extinguishment of security interests in all personal property; and

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