The Personal Property Security Register (PPSR) goes live

Date: February 11, 2014
Author: admin
Posted in: Insights

Until now, there has been a transitional period for goods to be registered on the PPSR. This transitional period ends on 30 January 2014, which means that if your business relies on trade terms or retention of title clauses, you will need to ensure that your terms of trade are updated to reflect the Personal Property Security Act requirements in order to create a valid security interest in your goods.

The PPSR operates to ensure that your interest in a customer or supplier’s goods are registered, and even if those goods are sold or disposed of, the PPSR will ensure that you have an entitlement to the funds received from those goods.

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