Services

Personal Property Securities

Tailored advice on how to protect your interests through the Personal Property Securities Register.

Services Experience Publications Factsheets

The Personal Property Securities Act 2009 (PPSA) came into effect on 30 January 2012 and has a wide-ranging impact on Australian businesses. The legislation not only affects financiers, but also anyone that has entered into, or will in the future enter into, any arrangement constituting a security interest under the PPSA.

This ground-breaking legislation creates new concepts and discards accepted principles that have formed the basis of commerce for many years, and directly impacts manufacturers, producers, suppliers, purchasers and users of goods and services.

The PPSA applies to most interests in personal property, and even businesses that have never had to register security interests before now need to take care to protect their rights. In addition, anyone who has been granted a security interest or has entered into any form of arrangement that may be regulated by the PPSA needs to review their documents and consider what steps they need to take.

We understand how the PPSA affects businesses in various industries, and provide tailored advice on how to protect your interests through the Personal Property Securities Register (PPSR).

Areas of Expertise

  • Advising on obligations under the PPSA 
  • Reviewing existing contracts to identify those security interests which should be registered on the PPSR 
  • Advising on the risks of not taking steps to perfect security interests 
  • Registering interests on the PPSR 
  • Undertaking a cost/benefit analysis of registering existing and future security interests 
  • Developing tailored manuals and checklists to enable companies to manage transactions and documents affected by the PPSA
  • Advising a variety of large corporate and commercial clients on identifying and mitigating risk, and amending documentation and procedures, as a result of the introduction of the PPSA. 
  • Reviewing and amending standard terms and conditions for supply, hire, sale and lease, including for the Wanless Group, the Maritimo Group, Digga Australia, Wespine Industries (a Wesfarmers joint venture partner), Clarke Energy, Primary Metals and Alloys, the Delta Hospitality Group and the Oxley Group. 
  • Advising prominent equipment hirer Mackellar Mining Group on the review and negotiation of facility and security documentation, with an emphasis on negotiating the financier’s PPSA requirements and ensuring that the Group’s documentation and internal procedures comply with those requirements. 
  • Advising Collection House on the PPSA implications of purchasing thousands of bad debts.