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ARTICLE · 11 FEBRUARY 2012

Personal Property Securities - what do you need to do?

Holding Redlich
Holding Redlich
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The PPSA The Act introduces a new national register of security interests in a wide range of different kinds of property.

AustraliaFinance and Banking
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The Personal Property Securities Act (the Act) commenced operation on 30 January 2012. The Act is a new national register of security interests in a wide range of different kinds of property, and replaces a multitude of different registers around the country. The Act also sets out the rules for priority of interests between secured parties and purchasers.

Who is affected?

  • If you fall into any of the following categories you need to know about the new regime and take steps to protect your existing interests, and ensure that new security interests granted from now on are in the proper form and properly registered:
  • you are a business that sells goods on deferred payment terms

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