The Council of Australian Governments has announced that the commencement of the securities regime established by the Personal Properties Securities Act 2009 (PPSA) will be delayed until October 2011.

As outlined in our Alert last month, the regime was originally due to commence in May 2011. The delay has been prompted by industry requests for more time and will give those affected by the PPSA a longer period to establish revised practices and procedures, and to ensure that their interests are protected from commencement.

We will continue to provide updates and commentary as new information comes to hand.

For more information about the Personal Property Securities Act or advice on how it will affect your business, please contact HopgoodGanim's Banking and Finance team.

Paul Cullen, Partner
Tel 07 3024 0335
p.cullen@hopgoodganim.com.au

Daniel Pinti, Senior Associate
Tel 07 3024 0338
d.pinti@hopgoodganim.com.au

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