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Personal Property Securities Act

The Personal Property Securities Act (PPSA) came into effect in 2012 and significantly changed the way in which security over personal property can be protected.

The concept of ownership of property has changed by the introduction of the Personal Property Securities Act. Personal property under the Act includes any property, whether tangible or intangible (e.g. machinery and equipment, inventor, motor vehicles, intellectual property such as trademarks and patents, stock, crops etc).

Only land, fixtures and certain licenses are excluded from the definition of personal property.

If you do not protect your security in personal property you risk losing it. It is imperative that your interests are protected on the Personal Property Securities register. If your interests are not protected, and the very complex requirements of the Act are not complied with, the impact on your assets could be disastrous. There have been a number of cases where people thought they owned property and found out that it would be licensed to a liquidator or other party under the provisions of the Personal Property Securities Act.

Our team will protect your rights over personal property and ensure that our clients do not lose their valued assets. We have extensive experience in registering appropriate security interests on the Personal Property Securities Register to ensure our client’s interests are protected.

You can be assured our team will act quickly and efficiently to ensure that both you and your property are protected.

Our Business and Corporate team have developed a guide for an update on key developments for Business Owners in regards to the Personal Property Securities Act.

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