Priorities Under the Personal Property Securities Act |

Priorities Under the Personal Property Securities Act


Author Profile

Priorities Under the Personal Property Securities Act

Dr. James O’Donovan has practised in commercial litigation and banking and finance in most Australian jurisdictions and is currently Special Counsel at Lavan Legal.

Course Summary

This course provides an overview of the priority rules which apply to security interests in personal property and examines how priority disputes should be resolved under the PPS regime.

Course Details

The Personal Property Securities Act 2009 (Cth) (PPSA 2009) is one of the most significant pieces of legislative reform for the Australian financial sector.

The PPS regime came into force on 30 January 2012.  Although the greatest impact of the reforms is being felt by financiers, the changes have also impacted on most businesses within Australia.  Consequently, it is vital for all practitioners to familiarise themselves with the PPS regime, and how it will effect their clients.

The PPSA 2009 introduced sweeping changes to the priority rules that applied under the Corporations Act 2001 and the general law.  This course examines the priority rules which apply to security interests in personal property and how priority disputes are to be resolved where there is more than one security interest in the same property. 

The course examines the specific priority rules, the default priority rules, the interaction of the PPSA priority regime with other priority regimes, and the impact of a transfer of collateral upon priorities.  

This course was updated in January 2014.


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