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ARTICLE · 12 APRIL 2013

PPSA - transitional provisions may spell the end for your security interests

Cooper Grace Ward
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Key PPSA provisions that currently protect some unregistered security interests will come to an end on 30 January 2014.

AustraliaFinance and Banking
Carly Ashwood
Carly Ashwood
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Key provisions that currently protect some unregistered security interests will come to an end on 30 January 2014. This affects security interests such as:

  • retention of title arrangements
  • equipment and finance leases
  • mortgages over property (other than land)
  • charges given by individuals.

Businesses that have been relying on the transitional provisions for these security interests need to take action or risk automatically losing their rights as a secured creditor from 30 January 2014.

What do you need to do?

Identify all the security interests held by your business (if you haven't already).

Document each security interest, including those that are subject to the transitional provisions.

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