New PPS Register to Commence on 30 January 2012

As part of the Australian Government’s implementation of the Personal Property Securities Act 2009 (Cth), the Personal Property Securities Register (PPS Register) will commence on 30 January 2012.

The commencement of the PPS Register marks the start of the transition from the old system of registration to the new system. Under the new system, all security interests in Australia will now be registered on a single register.

The commencement of the PPS Register brings with it a number of significant changes to the law of security interests in Australia. Businesses and clients alike are advised to seek professional advice so that they properly understand the changes and their implications.

More information on the Register can be found here.