An introduction to the Personal Properties Securities Act
18 February 2021
Personal Property Securities
Confused by security interests under the Personal Properties Securities Act? Our associate David Lee Lewes explains.
This publication is for information only and is not legal advice. You should obtain advice that is specific to your circumstances and not rely on this publication as legal advice. If there are any issues you would like us to advise you on arising from this publication, please let us know.
31 March 2020
Coronavirus is having huge impacts on the global and Australian economies.
25 March 2019
The Personal Property Securities Act 2009 (Cth) establishes a set of rules to determine the priority between competing security interests. These rules generally provide that a purchase money security interest (PMSI) over collateral that is perfected by registration will have priority over a non PMSI security interest that is granted by the same grantor in the same collateral. However, section 64 of the Act reverses this position and allows a non-PMSI to take priority over a PMSI for an interest in an account as proceeds of inventory.
8 January 2019
The Personal Properties Securities Register (PPSR) will be seven years old on 30 January 2019; accordingly, security interests with seven year registration periods will, unless renewed, expire from 30 January 2019.