PPSA Series: Beneficial Purchasers Without Notice

Foreword

This is Part One in Vincent Young's new PPSA Series.

If you supply or purchase goods on credit or are involved in hiring goods, it is critical that you understand the PPSA regime. These kinds of transactions are very commonly utilised in the construction industry.

If you don't fully utilise the PPSA, you are not adequately protected when things go awry.

Australia has followed the lead of other similar countries, including Canada and New Zealand, in developing a retention of title system which places utmost importance on registering your security interests on a publicly available register. If you do not register a security interest within the strict timeframes imposed by the Act, the effectiveness of your security interest can be compromised.