Western Australia
Fri 16 June 2017

New rules for PPSR

Important changes to the Personal Property Securities Register legislation have extended the minimum duration of PPS leases from more than one year, to more than two years.

The change came into effect on 20 May 2017.

From the date, those who enter into leases (and bailments) for two years or less (including applicable options to renew) will no longer need to register as the agreement is no longer considered a PPS Lease.

Leases and bailments of an indefinite term will not be PPS leases until they have ‘run’ for a period of more than two years.

For more information, click here to visit the Australian Financial Security Authority’s PPSR website.