Personal Property Security Register delays
Text Box: The Personal Property Security Register was anticipated to commence in October 2011. The Attorney General’s Department have experienced issues with internal testing, and have announced further delays. It now seems almost certain that the register will not commence operation in October 2011 as previously foreshadowed.   The registration commencement time under the Personal Property Securities Act 2009 (Cth) (the Act) is 26 months following the date of assent, which means February 2012 is the last possible commencement date.  It would require further amendments to the Act to push the date back further. Stakeholders have raised issues with the Christmas period affecting any proposed February 2012 commencement, so there has to be some doubt as to whether a February 2012 start is certain.  We will keep you updated as to the progress of commencement. MacGillivrays will be conducting a client seminar to assist with understanding the Act and the operation of the new register.   To register your interest in the seminar, please email marketing@macgillivrays.com.au.    

Wednesday  21 September 2011

News Alert
MacGillivrays Solicitors www.macgillivrays.com.au