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AMERICAN JOURNAL OF MANAGEMENT
The New Australian Personal Properties Security Act 2009 (Cth):
An Overview of Business Impacts, Transitional
Issues, and International Comparisons
Author(s): Elizabeth McVicker
Citation: Elizabeth McVicker, (2012) "The New Australian Personal Properties Security Act 2009 (Cth): An Overview of Business Impacts, Transitional Issues, and International Comparisons" Vol. 12, Iss. 1, pp. 120 - 130
Article Type: Research paper
Publisher: North American Business Press
Abstract:
For more than twenty years, Australian politicians and academics have been discussing federal securities legislation that would unify the more than 70 individual laws of the states and territories. Based on aspects of Article 9 of the UCC as well as Canadian and New Zealand law, the Australian Personal Properties Security Act 2009 (Cth) (the “PPSA”), which covers all transactions that have the economic effect of creating security, went into effect on January 30, 2012. This paper provides an overview of the business impacts of the PPSA, looks at the advantages of the new Act and suggests amendments for improvement.
