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ARTICLE · 21 OCTOBER 2011

Personal Property Securities (Registration Commencement) Bill 2011 introduced

Holding Redlich
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On 12 October 2011, the Government introduced the Personal Property Securities (Registration Commencement) Bill 2011.

AustraliaFinance and Banking
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On 12 October 2011, the Government introduced the Personal Property Securities (Registration Commencement) Bill 2011.

The Bill amends the definitions of migration time and registration commencement time so that the Attorney-General (as the relevant Minister under the PPS Act) may determine a time other than the automatic times in the PPS Act.

If the Minister does not make a determination, the migration time will be the first day of the month which is 25 months after the month in which the Act received the Royal Assent, and the registration commencement time will be the first day of the month which is 26 months after the month in which the Act received the Royal Assent. The Act received the Royal Assent on 14 December 2009, which means the migration time and the registration commencement time must be no later than 1 January 2012 and 1 February 2012, respectively. However, the Bill now allows the Minister to determine a commencement time which is later than

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