New definition of PPS Lease under the PPSA is now law

  • Author : William Stark - 06-06-2017

Further to my post on 12 May 2017 (see: http://bit.ly/2qRldhJ), the new definition of 'PPS Lease' under the Personal Property Securities Act 2009 (PPSA) came into effect on 20 May 2017.

As a result, section 13 of the PPSA now extends the minimum duration of PPS leases from more than one year, to more than two years. 

The Act also now makes it clear that leases of an indefinite term will not be deemed to be PPS leases unless and until they run for a period of more than two years. 

About the Author

William Stark

Recent Posts

How can I have a mortgage discharged if the lender has been wound up?

William Stark Date: 15-11-2023

2023 Case Law Update

William Stark Date: 22-03-2023

Are there any recent cases about Section 9AC of the Sale of Land Act and material changes to plans of subdivision before registration?

William Stark Date: 31-05-2022

Is it a good idea to use a template or precedent form of lease?

William Stark Date: 22-02-2022

Can parties to a mortgage agree to contract out of the statute of limitations?

William Stark Date: 02-09-2021

Who is responsible when external cladding fails in an apartment tower during a fire - Court of appeal?

William Stark Date: 04-06-2021