New definition of PPS Lease under the PPSA is now law

  • Author : Bill 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

Bill Stark

Recent Posts

Who is responsible when external cladding fails in an apartment tower during a fire?

Bill Stark Date: 10-01-2020

Valuations in Leasing Part 1: Options to Renew

Bill Stark Date: 30-11-2018

Valuations in Leasing: Renewals, Market Rent Reviews and Valuation Pitfalls

Bill Stark Date: 15-11-2018

When will there be a concluded lease, and what compensation will be payable if the landlord wrongfully breaches the lease?

Bill Stark Date: 23-05-2018

Can a lease cease to be covered by the Retail Leases Act 2003 during its current term?

Bill Stark Date: 16-04-2018

Can I challenge an expert valuer's rental determination made under section 37 of the Retail Leases Act 2003?

Bill Stark Date: 16-04-2018