DO IT ONCE DO IT RIGHT!
INTRODUCING THE PPSA
OVERVIEW
The Personal Property Securities Act 2009 or PPSA came in to effect on 30 January 2012. A two-year transition period was
provided by the Australian government to allow businesses to adjust, and the law is now in full force.
Why does this matter? There has been widespread talk about PPSA being described as the most important piece of
commercial legislation nobody has ever heard of. This statement could be a little exaggerated but in reality,
the overall level of awareness is low.
If you are wondering what the Act is all about and find the whole subject a bit baffling, please read on and we will provide
you with a primer about the PPSA. We hope to untangle the knots and straighten some issues as we explain the Act to
give you a broad grasp of the legislation and how your business could be affected.
The Act by its very nature is comprehensive and some thought of it as excessively long. There are a lot of new terminology
that makes it quite difficult to understand. The numerous exceptions to some very important clauses add up to the difficulty
resulting to ambiguity all round.
The PPSA is currently undergoing a Statutory Review process which is sometimes known as the Whittaker review, since the
lawyer Bruce Whittaker is the reviewer. The initial submissions show a widespread concern over intricacy, ambiguity and
lack of awareness of the Act.
The information you'll find on this website should be treated as a general overview only and please do not try to make it as
a reference to any particular situation. Any information provided here cannot be substituted for a legal advice and the
reader is not entitled to depend on it for whatever purpose.
Contact us now for a FREE PPSA Compliance Review
OVERVIEW
The Personal Property Securities Act 2009 or PPSA came in to effect on 30 January 2012. A two-year transition period was
provided by the Australian government to allow businesses to adjust, and the law is now in full force.
Why does this matter? There has been widespread talk about PPSA being described as the most important piece of
commercial legislation nobody has ever heard of. This statement could be a little exaggerated but in reality,
the overall level of awareness is low.
If you are wondering what the Act is all about and find the whole subject a bit baffling, please read on and we will provide
you with a primer about the PPSA. We hope to untangle the knots and straighten some issues as we explain the Act to
give you a broad grasp of the legislation and how your business could be affected.
The Act by its very nature is comprehensive and some thought of it as excessively long. There are a lot of new terminology
that makes it quite difficult to understand. The numerous exceptions to some very important clauses add up to the difficulty
resulting to ambiguity all round.
The PPSA is currently undergoing a Statutory Review process which is sometimes known as the Whittaker review, since the
lawyer Bruce Whittaker is the reviewer. The initial submissions show a widespread concern over intricacy, ambiguity and
lack of awareness of the Act.
The information you'll find on this website should be treated as a general overview only and please do not try to make it as
a reference to any particular situation. Any information provided here cannot be substituted for a legal advice and the
reader is not entitled to depend on it for whatever purpose.
Contact us now for a FREE PPSA Compliance Review