PPSA

The Personal Property Securities Act 2009 (Cth) (“PPSA”) was introduced in 2009, causing widespread change in respect of the personal property rights of individuals and corporate entities throughout Australia. It is extremely important that all business, small or large, are aware of their rights and obligations under this legislation so that they can move to protect the personal property of their businesses.

If a business owner does not obtain advice in respect of the PPSA at an early stage, it can be catastrophic for the business owner in respect of the personal property and that may include the loss of the personal property.

No longer is it satisfactory to have a simple retention of title clause in a contract. Obviously some personal property of the business including plant and equipment can have substantial value. The PPSA can have significant and far reaching ramifications for business owners if they do not take adequate steps to protect and secure their personal property interests.

We regularly assist with preparation of trade terms and conditions and registrations on the Personal Property Securities Register. We can also provide prompt advice and assistance in recovering property or debts.