When should the collateral class be ‘all present and after acquired property’?

Only when the grantor is providing security over all of its personal property. This is similar to granting a fixed and floating charge which was previously registered with ASIC pursuant to the Corporations Act 2001 (Cwlth).

Depending on the client’s circumstances, it may not be appropriate where the client is purchasing a single piece of equipment such as a photocopier on finance for the client to give a charge over all of their all present and after acquired property. In this example the collateral class should be described as ‘other goods’ and not all present and after acquired property. You can find more information about collateral classes on the PPSR website.