Industry Consultation on Financial Products and the Personal Property Securities Act
Background - reform to the Personal Property Securities Act 2009
We sought the views of industry experts on the provisions in the Personal Property Securities Act 2009 (PPS Act) about financial property and intermediated securities.
This consultation was in response to recommendations from the 2014 Statutory Review of the PPS Act.
Areas for discussion
We sought views on the practical impact of the PPS Act on the trading of financial products.
- whether the current provisions in the legislation should be amended
- the reasons for any proposed changes
- the nature of any proposed changes.
We developed a discussion paper to guide this consultation process.
- Simplifying concept definitions
- How to notify third parties of the presence of a security interest in financial property or an intermediated security
- Appropriateness of the provisions on taking financial property free of a security interest
If you have any questions about the consultation process, email PPSAReform@ag.gov.au.