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Old company charges may require a review

PPSA Law News | February 2017

On 30 January 2012 when the Personal Property Securities Act (PPSA) and Regulations commenced, ASIC “migrated” all company charges which were registered on the ASIC Register to the new Personal Property Securities Register (PPSR).

Those charges were provided protection to the chargee (the grantee of the security interest) under the PPSA until 30 January 2017.

If you had a company charge which was migrated to the PPSR in January 2012 and you wish to continue to rely on that company charge as security over company assets, then you are advised to review the documents creating that charge to ensure the terms of the document comply with the PPSA,.

If you have any questions or concerns about legal matters regarding the PPSA give us a call for an obligation free chat for up to 30 minutes on the phone or make a time to visit us in Leichhardt on 02 9560 3388.

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