Who's responsible:

Personal Property Securities

The Australian Government, in cooperation with the States and Territories, is pursuing reforms to Australia’s personal property securities (PPS) law and practice which will improve Australia’s business laws and to create a more competitive economy.

Personal property securities are interests in property (other than land) that are created or evidenced by an agreement that secures payment or performance of an obligation.

PPS reform has the capacity to minimise the inconsistencies and complexities that currently exist – in the laws around Australia and in the practices of the businesses involved with personal property securities.

Personal Property Security reform sets out to:

• Increase certainty
• Increase consistency
• Reduce complexity
• Reduce costs

More information on the reforms can be found on the Personal Property Securities Reform page.