How does the PPSA impact your business? - NAB

What is personal
property securities
The Personal Property Securities Act (PPSA) established
a single national law, governing security interests in
personal property. It replaced the large number of
existing Commonwealth, State and Territory laws, and
more than 20 registers, for personal property security.
It is important to understand and act
on the requirements of the PPSA to
‘perfect’ and protect your security
interest from other security interests
taking priority, or losing your title to
another secured party.
Changes to PPSA law and practices relating to secured
lending involving personal property apply to companies
and individuals (including partnerships), trusts and
other legal entities. Please see page 5 for a definition
of ‘personal property’.
There is a single Personal Property Securities Register
(PPSR); a national online register on which all security
interests in personal property can be registered. The
PPSR replaced a number of State and Commonwealth
registers, including ASIC Register of Company Charges
and all State Registers of Encumbered Vehicles (REVs).
2 3