If so, you can now help ensure that you get paid even if a debtor defaults or goes bankrupt.
The Personal Property Securities (PPS) Register starts on 30 January 2012.
This new national online regsiter will help consumers and businesses check whether the property they buy has a security interest over it, by allowing a national search for security interests on a single register for a small fee.
PPS reform will help business by providing the opportunity for lenders to accept different kinds of personal property as security for loans.
The legislation deals with the registration of security interests in personal property and many businesses will be affected. Those who fail to understand the significant changes could potentially place assets at risk as this legislation radically changes the notion of legal title over assets. It is important that you understand the impact of this legislation on your business.
Find out more about how you can reduce the risks of doing business today.
If you require any further information please click on the link below or call our office on 9388 2532 for assistance.
Visit: www.ppsr.gov.au
