Personal Property Securities Act 2009 (PPSA) – What you need to know

Organisations involved in the building and construction and mining industries are likely to be among those most affected by PPSA. This session will draw on the experiences in New Zealand and Canada and provide case studies to help better understand the issues involved.

The practical issues to be highlighted by this presentation include:

• Key concepts revisited
• Who is affected, and how, by plant and equipment on site
• Impact of insolvency – losing ownership of property
• ‘Perfection’ by other means in addition to registration
• Registration by serial number – compulsory or discretionary?
• Checklist for a PPSA manual.
  

Because the PPSA expressly states that it does not apply to land there may be a misconception in some quarters that the PPSA does not apply to landlords or those involved in property development. This presentation will identify issues for the property industry and explain why and how they are affected, including:

• Key concepts revisited
• Landlords:
  - What is a fixture? – registration of non fixtures
  - 'Lockout’ – Benefits of searching the PPS Register
  - Duties owed to tenants and stakeholder
• Property developers:
  - Security interest in collateral not forming part of the land
  - Protecting the value in the project
  - Impact of insolvency on equipment on site and building materials yet to be installed
  - Perfection’ by ‘control’
  - Duties owed to stakeholders
• Searching the PPS Register – what to look for.
  

The application of the PPSA and the PPS Register to intellectual property (IP) continues to cause some confusion. In this session we will deal with some of the misconceptions and explain the PPSA rules and exceptions as they apply to various forms of IP, including: 

• Key concepts and definitions
• Licensing arrangements
• Differences between the PPS Register and Patents, Trade Marks & Design registers
• Will security interests on other IP registers transition to the PPS Register?
• Benefits of registering IP on the PPS Register
• Risks of not registering IP on the PPS Register
• Impact of insolvency – losing ownership of IP.
  

Distributors and suppliers of goods are likely to be those most affected by PPSA. This session will draw on the experiences in New Zealand and Canada and provide case studies to help better understand the issues involved.

The practical issues to be highlighted by this presentation include:

• Key concepts revisited
• Impact of insolvency – losing ownership of property
• ‘Perfection’ by other means in addition to registration
• Registration by serial number – compulsory or discretionary?
• What is a motor vehicle?
• Checklist for a PPSA manual.
  

Introduction to the Personal Property Securities Act 2009 – Critical overview and key concepts

This introductory session will provide an overview of the PPSA and its key concepts, including:

• What is personal property?
• The PPS Register
• Who needs to register?
• What is a ‘security interest’?
• What is a purchase money security interest (PMSI)?
• Registration information and how to register
• Effect of registration or non-registration
• Transitional security interests
• What is ‘attachment’, ‘perfection’ and ‘control’?
• Amending or removing registration – ‘discharges’
• Priorities
• Timeframes for ‘perfection’
• Enforcement.
  

A person who holds a ‘security interest’ or to whom a security interest is granted should register on the PPS Register. Financiers and buyers of goods will want to search the PPS Register. This presentation will show you the basics including:

• Why should you search the PPS Register?
• Registering as a secured party group
• Registering as an account holder
• Registering a financing statement including information about the details required to create a registration
• Verification statement and the importance of the ‘token’
• Amending or discharging registrations
• Searching the PPS Register
• Priorities revisited.