By: Michael Polkinghorne, Poole & Partners Pty Ltd.
The Personal Property Security (PPS) reform came into effect in January 2012 and brings together the different state, territory and federal laws and registers regarding personal property under one national system.
The law creates a Commonwealth Register (National Personal Property Security Register) and requires a person who holds a security interest in another person's property, or property held by another person, to register their interest. In essence, possession becomes 10/10th of the law unless a 'Security Interest' is registered.













