Personal Property Securities Act update

If you:

  • have any of your goods or assets located at the premises of other businesses (e.g. on consignment);
  • sell goods with a retention of title term;
  • are likely to purchase a business and its assets;
  • take security over assets of other persons/companies;
  • lease assets between associated entities within a corporate group,

your assets could be at risk if you do not register your security interest under the PPSA or undertake the necessary searches.

Our February 2011 Information Brief  provided an overview of the PPSA. Now may be a good time to revisit it.

If you are likely to be affected by the PPSA you should start preparing for the new registration system. If you are not sure whether you are likely to be affected, you should seek advice.

Simon Jay heads our commercial team and is able to help businesses prepare for the impact of the PPSA and offer advice on each business’s specific requirements.