PPSA: An overhaul is coming
A full statutory review of the Personal Property Securities Act 2009 (the Act) has been completed, with the final report being tabled before Parliament last month. A copy of the report, which is 542 pages long, can be accessed here.
The report contains a staggering 394 recommended changes to the Act and Register. The report proposes the preparation of a draft amendment Bill to then be released for consultation.
If the Act is ultimately amended, further changes will be required to documents and business processes, despite many businesses having already invested significant time and money into PPSA compliance since the Act commenced in 2012.
If you have questions about the PPSA please contact Amanda Tolson or Peta Gray in our Commercial + Property section.