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PublicationsAre you prepared for the commencement of the Personal Property Securities Act?9 November 2011
As you may or may not be aware, the Personal Property Securities Act 2009 (Cth) (PPSA) is scheduled to come into full force and effect in early 2012. The PPSA is a serious reform which is likely to impact on most businesses. At this stage the exact commencement date is still unknown. There have been significant delays to the commencement of the PPSA, the latest delays we understand are due to IT systems required for the PPS Register not being operational in time for the previously suggested start dates.
The latest delay therefore provides an opportunity and further period of time for those parties who may be adversely affected by the operation of the PPSA to obtain the required advice and implement the changes necessary to their processes and procedures to be able to comply with the PPSA on its commencement.
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