The new agribusiness challenge – securing property under the PPSA

Tractors, crops, livestock, wool, and plant breeder's rights. What do they have in common? All are farm related and are also "personal property" under the new Personal Property Securities Act 2009 (Cth) (PPSA), which commenced on 30 January 2012. Just about all property other than land is covered by the PPSA: some important exceptions for agribusiness are fixtures (personal property affixed to land) and certain water entitlements.

The PPSA has created a single, national scheme for regulating interests in personal property given as security for payment or other obligations. It replaced a patchwork of over 80 previous state and federal laws, including many laws specific to agricultural property, like those for stock, wool and crop liens or mortgages.