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Finally the Personal Property Securities Register is making its mark

We are starting to see an increasing trend in new registrations and searches being carried out on the Personal Property Securities Register (PPSR).  This is an encouraging sign as we hit the 2 year mark since the implementation of the Personal Property Securities Act (PPSA) on 30 January 2012.

The PPSA was introduced to streamline how we deal with and record security interests in personal property other than land. The PPSR brought together 23 separate registers to create one national public register of securities. [...]  READ MORE →

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Priority of Personal Property Securities Register

Maiden Civil Pty Ltd; Re; Albarran v Queensland Excavation Services Pty Ltd [2013] NSWSC 852

Issue

The Supreme Court of New South Wales has ruled that the nemo dat rule (that one cannot give what is not theirs) has been removed from Australian law in relation to thePersonal Property Securities Act 2009 (Cth) (“PPSA”).

This case also provides that in circumstances where a party has not secured their interest in property as the true owner, their interests may be outweighed by the secured interest of a third party, under the act. [...]  READ MORE →