New definition of PPS Lease under the PPSA is now law

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. 

RECENT POSTS

Greens List Barristers | Owen Dixon Chambers, 205 William Street, Melbourne VIC 3000 | DX 98 Melbourne | Ph: 03 9225 7222 | Fax: 03 9225 8485
Email us here | Terms and Conditions | Privacy | Disclaimer
Developed By Tech9logy Creators