20 January 2012
New Personal Property Securities Register commences on 30 January 2012
The new national Register for security interests over personal property – the Personal Property Securities Register – is due to commence operations on 30 January 2012. The Register is part of a new national system regulating security interests over personal property.
The new national system, which was established by the Personal Property Securities Act 2009 (Cth) (PPS Act), replaces existing State schemes dealing with personal property securities.
Personal property includes tangible and intangible property other than land and a right, entitlement, licence or authority (statutory right) that has been declared by a law not to be personal property for the purposes of the PPS Act.
If you work in an agency that is involved in taking security against personal property, you should be aware of the PPS Act and the new regime it establishes.
To assist agencies with the new system, AGS has prepared Legal briefing 94, which can be accessed at our website: http://www.ags.gov.au/publications/agspubs/legalpubs/legalbriefings/index.htm
For further information please contact:
Team Leader / Senior Executive Lawyer
T08 9268 1137 F 08 9268 1771
M 0407 849 724
Senior Executive Lawyer
T 02 9581 7517 F 02 9581 7430
M 0407 921 008
T 02 6253 7239 F 02 6253 7302
T 08 9268 1112 F 08 9268 1771
Important: The material in Express law is provided to clients as an early, interim view for general information only, and further analysis on the matter may be prepared by AGS. The material should not be relied upon for the purpose of a particular matter. Please contact AGS before any action or decision is taken on the basis of any of the material in this message.