Personal Property Securities Reform Update

At their meeting on Sunday 13 February, the Council of Australian Governments (COAG) agreed to defer the commencement date for Personal Property Securities reform to October 2011 (from the original deadline of May 2011).

The Personal Property Securities (Corporations and Other Amendments) Bill 2011 was introduced in Parliament on 23 February 2011. The Bill is expected to be finalised during the budget session in the second week of May.

With 6 months to go until commencement if you haven’t done already you should consider how the PPS reforms will affect your business.

Please contact Bayston Group with any questions.