HG Alert: Commencement of Personal Properties Securities Act 2009 postponed - 16 Feb 2011

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.