Determining whether the PPS Act applies

The Personal Property Securities Act 2009 (Cth) (PPS Act) is a law regarding security interests in personal property. Whether the PPS Act applies depends whether the matter or transaction captures a security interest as defined by the PPS Act.

The definition of “security interest” is in two parts. The first is the “in substance” definition, and the second is a list of three kinds of “deemed” security interests. This guidance note starts with explaining the two parts to the definition of “security interest”, and provide practice tips so legal practitioners can apply the relevant concepts in transactions they are managing or advising on.

This guidance note also explains the connection with Australia that must be satisfied before the PPS Act applies to a security interest.

See Determining whether the PPS Act applies.