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ARTICLE · 25 NOVEMBER 2011

Personal Property Securities Act and its Impact on Horticulture

The PPSA change core will change business practices for the rural/agribusiness sector.

AustraliaFinance and Banking

The Personal Property Securities Act (PPSA) is due to commence on 30 January 2012.

The PPSa is one of the most significant reforms to australian commercial law in decades. it will dramatically change core business practices for a wide-range of australian services and businesses, including in the rural/agribusiness sector.

The PPSa applies to virtually all types of property (except land). the PPSa requires that businesses register all security interests on the Personal Property Securities register (PPSR).

For example, from January 2012, in addition to the more commonly recognised security examples (e.g. charges, bills of sale, crop liens), the following arrangements will also need to be registered as a security interest on the PPSr:

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