The Personal Properties Securities Act 2009 (Cth)
(PPSA) commenced on 30 January 2012. The PPSA
makes significant changes to the concept of security interests over
personal property.
Central to the PPSA is the Personal Properties Securities
Register (PPSR). Primacy of the register is a
fundamental to the Act. Therefore it is essential that secured
creditors are aware of their security interests recorded against a
company in the PPSR. This places creditors in a position to respond
efficiently to requests as to a claim or for further information
about the registration from insolvency plaintiffs appointed to a
company, and staves off potential sale of the secured assets.
Knowledge of the particulars of the security interests is very
important. Currently the general nature of registrations on the
PPSR and the number of unregistered transitional security interests
makes it difficult for insolvency administrators to rely on the
PPSR to identify particular property that
