Update: Personal Property Securities Act 2009 – implementation

Following its analysis of the user acceptance testing of the new Personal Property Securities Register, the Attorney General's Department has announced that the commencement of the Personal Property Securities Act 2009 (PPSA) has again been deferred. 

It is now expected that the PPSA will come into force in early 2012. 

While no official statement has yet been released, it is believed that technical and design problems with the online register are behind the delay. 

The uncertainty caused by the delay is regrettable, but we maintain that clients should contact us as soon as possible to ensure their businesses are ready when the new regime actually commences.