The PPSA is a complex piece of legislation. You're not alone if you're still wondering whether it applies to your business and what you should be doing to prepare.

Does the PPSA apply to me?

The PPSA will not only affect banks and financiers, but also retention of title suppliers, manufacturers, suppliers, hire purchase arrangements, franchises and anyone else that supplies goods on an arrangement that constitutes a security interest under the PPSA.

<>p>The PPSA requires that businesses register all security interests on the Personal Property Security Register. A failure to register a security interest may result in your business losing its interest in those goods if your customers become insolvent, bankrupt or enter into liquidation.

We can help

Here are some examples of how we're assisting our clients to prepare for the October 2011 deadline:

  • Reviewing terms of trade (particularly for businesses that supply goods on a retention of title basis);
  • Developing and implementing internal procedures for the registration and migration of security interests;
  • Developing internal record system policies to manage PPSR registrations; and
  • Developing on-site training sessions targeted to particular businesses and industries.

We recommend you give consideration to any areas of your business activities which may be impacted by this legislation.

If you believe your business may be affected by the PPSA or that you may have security interests that require registration on the PPSR please contact Amanda Bull on (07) 3231 8712.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.