By Paul Cullen, Partner
As the Personal Property Securities Act 2009 (Cth)
commenced operation on 30 January 2012, any person or business that
has been granted an interest that constitutes a security interest
under the PPSA will need to take action immediately to ensure that
their interest is protected. In most instances, this will mean
registering the interest on the Personal Property Securities
Register (PPSR).
Here, partner Paul Cullen discusses the transitional provisions
under the PPSA and how they relate to master agreements.
Key points
- Where a security interest has been created under an agreement
entered into on or after 30 January 2012, it is essential that the
interest is registered on the PPSR as soon as possible and, in any
event, within any timeframes prescribed under the PPSA.
