Commencement of the Personal Property Security Register has been
postponed until late October. Find and claim is now available.
For those who came in late
The Personal Property Securities (PPS) reform
scheduled to commence in October 2011 completely replaces the
existing schemes for registering security over most types of assets
except real estate. For example, charges over companies will no
longer be registered at ASIC and security over motor vehicles will
no longer be registered at REVS.
Instead, these security interests will be registered on
the PPS Register.
In addition, security interests which were not previously
registrable can be registered in the PPS Register. This is
particularly important in relation to owner's rights under
equipment leases, hire purchase agreements, and retention of title
arrangements.
