One of the many industries that the Personal Property Securities
Act (PPSA) impacts upon is equipment hire, specifically hirings to
the mining industry.
Such hirings usually comprise lease, chattel mortgage or term
purchase contracts involving multi-million dollar
"big-ticket" trucks and diggers, colloquially known as
"yellow goods". These goods constitute serial numbered
property under the PPSA. Hence the contracts deploying this kind of
property require registration on the PPS Register if the
deployments are to be for durations of 90 days or more.
Obviously, where a supplier/financer hires to (or takes direct
security from) a mining company or contractor for use of the
equipment on or about a particular mine site, no major issues arise
apart from the need for PPSA registration within the specified time
constraints.
