Personal Property Securities (PPS) law reform - further draft of Bill released

On 17 November 2008, the Federal Attorney-General, Mr Robert McClelland, released a further draft of the Personal Property Securities Bill (Revised Bill) which has been referred to the Senate Standing Committee on Legal and Constitutional Affairs for comment.

The Revised Bill takes account of the results of an extensive public consultation process which included the provision of submissions from interested parties on the Consultation Draft of the Bill, released in May 2008 (Consultation Draft).

The purpose of this Update is to highlight some of the significant changes contained in the Revised Bill.

To assist you in your review of the Revised Bill, the Schedule to this Update provides you with cross-references from the previous section numbers of the Consultation Draft to the relevant section numbers of the Revised Bill, and also highlights the new provisions which have been incorporated in the Revised Bill.