This book is only available in PDF format

Author(s): Laurie Mayne, Rob McInnes, Steve Flynn, Mark O'Regan
Published: 14 March, 2000
Pages: 84

Introduction

• provide a brief historical background to the passing of the PPSA, including a brief description of the current law which it will replace;
• outline the scope of the PPSA, particularly the new comprehensive concept of “security interest”;
• explain the new concepts of “attachment” and “perfection”;
• describe how the registration system will work and how the PPSA will affect financing transactions in the future;
• summarise the rules for determining priorities between security interests in the same collateral, and between holders of security interests in, and buyers or lessees of, the same collateral;
• outline the consequences of failing to perfect a security interest, particularly in relation to other holders of a security interest in the same collateral, purchasers of the collateral, and liquidators and other insolvency agents;
• describe the way in which the PPSA envisages the transition from the existing law to the regime established by the PPSA will work in practice;
• summarise the remedies provisions.