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ARTICLE · 14 SEPTEMBER 2010

Personal Properties Securities Act Legal Alert

Norton Rose Fulbright Australia
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The Personal Property Securities Act 2009 (C’th) (PPSA) is a new law about security interests in personal property which will apply Australia wide.

AustraliaFinance and Banking
Nino Di Bartolomeo
Nino Di Bartolomeo
Charlene Yuen
Charlene Yuen
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What is the PPSA?

The Personal Property Securities Act 2009 (C'th) (PPSA) is a new law about security interests in personal property which will apply Australia wide.

When does PPSA start?

The PPSA is already law, but will start on the "registration commencement time", which is expected to be 1 or 2 May 2011. After that, new security interests over personal property will be notified on the Personal Property Securities Register. A new PPS Register will act as a "noticeboard" of security interests – it will not be a register of documents. A person may notify a security interest on the PPS Register by lodging a Financing Statement that sets out certain details required by the PPSA.

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