The introduction of the Personal Property Securities Regime
(PPS Regime) which was scheduled to commence on 31
October 2011 has now been deferred, at least to 30 January 2012.
What's more, legislation introduced into Parliament last week
may see this introduction pushed further still, past January, to a
later and yet to be determined date.
The PPS Regime will have a far reaching affect on dealings with
various forms of personal property.
A briefing note has been prepared on the practical application
of the PPS Regime to businesses involved in selling or financing
goods and some useful Q&A on how to prepare
for its introduction.
The Regime applies to all "security interests" in both
tangible and intangible personal property and includes as classes
of "collateral" goods such as motor vehicles and
watercraft.
