Personal Property Securities (PPS) law reform - navigating through the maze

In this client update, our second in a series on this key reform of Australian personal property security law, we provide an update on the reform process and include an easy to use navigation tool and flow chart (PPS Navigator) to assist you in assessing the impact of the draft PPS legislation on your business.

As mentioned in our first client update on PPS, the Personal Property Securities Bill 2008 (Bill) was released on 16 May 2008 and was subject to a three month period for consultation ending last week.

DLA Phillips Fox has been an active participant in the reform process, liaising with the Federal Attorney-General’s Department in relation to the Bill and having had a number of meetings with representatives of the Attorney-General’s Department to discuss issues which we identified as a result of our review of the Bill. In this update, we summarise the key issues we raised in our submission on the draft legislation.