Applications close on Friday 15 June 2012.

For more information and details on how to apply, click here.

‘Personal property’ is almost all assets other than land.  This includes tangible property such as motor vehicles, inventory, plant and equipment and also intangible property such as intellectual property, shares and licences.

The PPS regime will have consequences that people may not expect.  For example, retention of title arrangements, which are commonly included in standard terms and conditions of trade must now be registered to be fully effective.  Similar requirements apply to hire purchase arrangements.

We are able to advise you on registering and searching interests over personal property, as well as enforcement of security, if that should be required.  Like most new systems, it is very likely that there will be uncertainties and disputes in the early days of the PPS regime. 

Please contact Ben Wilson or Adam Rosser if you wish to discuss the new PPS regime.

PPS will be governed by the Personal Property Securities Act 2009 (Cth) and will be a fundamental change to the way security is taken over ‘personal’ property.

Personal property is defined under the Act. It includes most assets, rights and property other than real estate. Notwithstanding the name, 'personal' property can include property owned by companies as well as individuals.

The Act is relevant not only to banks and finance companies, but to a wide range of businesses, including businesses that provide goods and services on credit terms.

PPS will involve the introduction of a new online PPS register of security interests. Many security registers around Australia (including the ASIC Register of Charges) will be migrated into the new system. Registration on the PPS Register will be critical in determining the priority of security interests if enforcement is required.

Of great importance, many interests which have not traditionally been considered 'security' interests (for example, retention of title arrangements) may need to be registered. If you have terms of trade which includes security terms or retention of title terms, we can provide advice on the new regime and on how you can update to protect your interests.

If need be, we can assist you to enforce your security.

Please contact our Commercial Transactions team if you have any questions or require our assistance in relation to PPS.

The new offices comprise three floors of meeting rooms, work areas and library. In addition to the outstanding on-site facilities, the new offices are much more convenient for parking and much closer to the Courts precinct. We expect the new offices will serve us well long into the future.

We look forward to welcoming visitors to our new offices!

We believe the new website is more informative and more user-friendly than our old site.  In addition, it has been built to allow easier development and implementation of new features and new technologies over time.

Our new logo replaces a logo which has been with us since 2005.  It has served us well, but the firm has developed since then and it is time our logo did too.