The Personal Property Securities Register (PPSR) is a potential “time bomb” for many people in business.
Many SMEs have stated that it doesn’t seem right that a business that paid for an asset or borrowed money to purchase an asset and still owes money for that asset can lose an asset if registration has not been lodged with the government agency.
The problem is that this is basically the law for Personal Property Securities Register. This article includes comments on the following:
- Personal Property Securities Register – a “potential time bomb”
- Romalpa clauses (as drafted prior to January 2012) do not apply any more
- Do you have a Personal Property Securities Register system?
