It looks like the Personal Property Securities Act is set to be delayed until after 1 February 2012. Two days ago, the Attorney-General introduced a Bill to Parliament designed to give him flexibility to further delay the registration commencement date for the Personal Property Securities regime.
The Personal Property Securities Act commencement date has been delayed a second time, causing lawyers and financiers throughout the country breathe a sigh of relief. Many firms and businesses will welcome the extra time to prepare for the sweeping changes which will be made to the law when the Act comes into force.tbc
