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ARTICLE · 28 MARCH 2012

Personal Property Securities Act - Impact on Energy and Resources Projects

Companies need to consider if security interests in their project assets should be registered on the new PPS register.

AustraliaFinance and Banking

The Personal Property Securities Act 2009 (Cth) (PPSA) will have a major impact on participants in the Energy and Resources industry. The new securities registration regime, which commenced on 30 January 2012, will have wide ranging effects on the protection and management of security interests in respect of various project assets.

Companies in the energy and resources industry need to consider whether security interests in their project assets should be registered on the new on-line personal property securities register (PPS register).

Failure to identify and register security interests in time could result in third parties establishing a better priority position in respect of security interests over those assets.

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