How do the new Changes to the property securities act affect your business?

Posted on by Mark Fernandez

By Paul Kordic, Partner, Talbot Olivier Lawyers

The Personal Property Securities Act 2009 (Cth) (PPSA) will likely affect every business in Australia to varying degrees.  It will have a huge impact on the taking, registration and enforcement of security over almost all kinds of property, except land, by creating a central database for registering security interests.

The PPSA overturns fundamental property law concepts. In particular, under the new laws, holding legal title may not protect an owner from loss of property to a third party.   It is vital that businesses are aware of the implications of the PPSA before the proposed commencement date of 30 January 2012.

This memorandum briefly explains HOW the PPSA may affect your business and what you need to be doing NOW in order to protect your business. 

How the PPSA may affect your business

What you should be doing NOW to protect your business

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