On 13 December 2011 it was announced that the PPS regime will
commence on Monday, 30 January 2012.
Earlier reports of this commencement date were premature,
because although certain determinations had been made, these
determinations were subject to a final announcement by the AG's
department. That announcement has now been made.
As a result, from Friday 27 January 2012 many registries will
close and from Monday 30 January 2012 security interests will need
to be registered on the Personal Property Security Register
(PPSR).
Accordingly, it is timely for us to re-publish our practical
guide which can be accessed
here.
Obviously, lenders and equipment financiers are significantly
affected. However, other businesses which sell goods on a retention
of title basis are also impacted. Gadens Lawyers can provide
cost-effective practical solutions for your business. Contact us
today.
