PPSA claims and changes

1 August, 2017

What are you doing to avoid a Personal Property Securities Act claim? One of the first LPLC blogs was about the Personal Property Securities Act 2009 (Cth) (PPS Act) (November 2013) and the three little pigs. The message was that the three little pigs had three goes to get it right but practitioners had only […]

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Protecting transitional interests

1 November, 2013

The Personal Property Securities Act 2009 (PPS Act) transition period comes to an end on 30 January 2014. Are you prepared? Part 9 Transitional Provisions Part 9 of the PPS Act deals with the transitional provisions. The transitional period is 24 months from the registration commencement, which was 30 January 2012. Key terms A number of key terms […]

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The big PPS questions

1 July, 2012

Are you trying to protect a client’s interest in property or are you trying to ensure that your client is taking property free of other security interests? Putting the complexities of the personal property securities (PPS) reform aside, there are two important questions to consider. This article examines two fundamentals that many practitioners will need to consider from time to time: […]

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Limits to looking back

28 May, 2012

Retainer management is the key to avoiding unforeseen obligations to advise later Often changes to the law will affect previous advice given or documents drafted for clients by their lawyers. One current example is the new personal property securities reform legislation and the effect it has on certain business structures or the terms of trade used by businesses. Separating businesses into asset […]

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What role will you take?

28 April, 2012

Every firm needs to consider what role to play in the administration of security interests on the Personal Property Securities Register. Every law firm needs to determine what role it will take in registering, maintaining and searching for financing statements on the new Personal Property Securities (PPS) Register. In other words, will the firm do this on behalf of its […]

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New protection from bad debt

1 December, 2011

Businesses have much to gain by preparing for personal property security reform. The start of the personal property security reform has been delayed from the previously announced date of 31 October. At the time of writing, it is not clear when the new registration start date will be; currently 1 February 2012 is the latest […]

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The keys to property

1 August, 2011

In the April 2011 LIJ the LPLC highlighted the importance of the Personal Property Securities Act 2009 (Cth), which will operate from October 2011. There are some key concepts in the Act that all practitioners need to understand. Key concepts – collateral The Personal Property Securities Act 2009 (Cth) (“the Act”) applies to almost all personal property, […]

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Beware of traps in new reform

3 April, 2011

All practitioners need to be aware of personal properties securities reform that is scheduled to commence in October 2011. There has been such a flurry of significant legislative reform recently that practitioners could be excused if they are finding it difficult to keep up. However, the Personal Properties Securities Act 2009 (Cth) deserves a special […]

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