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Felicity Davis

Protecting your Interests in the Supply of Materials Using the Personal Property Securities Act 2009 (Cth)

Protecting your Interests in the Supply of Materials Using the Personal Property Securities Act 2009 (Cth)

If you are involved in the supply of materials, whether plant, equipment or other building materials, whether by way of sale or hire, in the building and construction industry you should be aware of the operation and effect of the Personal Property Securities Act 2009 (Cth) (PPSA), which can help protect your interests in the event of the insolvency of the party to whom you supply materials.

Suppliers now have registerable security interests in the personal property that they supply to customers on a retention of title basis. Supply of materials on a ‘retention of title’ basis means that the seller retains legal ownership in the goods (even after delivery to the purchaser) until payment in full is received.