The Personal Property Securities Act 2009 (Cth) (‘PPSA’) came into effect nearly seven years ago on 30 January 2012. The Act created a uniform system for registering security, with all security interests (aside from mortgages) being centralised on the Personal Property Securities Register (‘PPSR’).
Individuals or companies that registered a security interest at or near the commencement of the PPSA may have PPSR registrations that are set to expires as of, or shortly following, 30 January 2019.
Any individuals or companies that may have registered a security interest near the commencement date of the PPSA are strongly advised to have any such registrations reviewed and renewed where applicable in order to ensure that they do not lapse and no longer be of any effect.
At Marino Law, we are experts in all aspect of securities law and in particular the PPSA. We invite you to contact one of our highly experience lawyers today to review your security interests and make sure that they always remain binding and enforceable.