On 12 March 2014, significant changes to the Privacy Act 1988 took effect that included the introduction of a more comprehensive credit reporting system, and the introduction of a set of Australian Privacy Principles, which set out the standards, rights and obligations in relation to the collecting, handling, holding, access and correction of personal information.
In a report setting out its work in the small business sector between 1 January and 30 June 2014 the ACCC has claimed it is committed to protecting the interests of small business and enforcing the Australian Consumer Law.
The definition of a “motor vehicle” under the Personal Property Securities Act 2009 (PPSA) was amended on 1 July 2014. The definition has been significantly narrowed and now excludes a great deal of motorised equipment that was previously subject to the motor vehicle provisions
To register a security interest on the Personal Property Securities Register (Register), there is no requirement to file the underlying agreement that creates the security interest. Accordingly, the Personal Property Securities Registrar cannot determine whether or not a registration is justified simply on the face of the details inputted into the Register. This therefore opens the Register up to abuse by the lodgement of sham registrations.
In light of the review of the PPS Act that is currently underway, we seek your input on how the PPS regime has impacted on your business so that we can better represent the interests of SMEs in the review process.
Arguably not since the introduction of GST has there been a more urgent need for businesses to review and revise their business practices, procedures and documentation than now. With the recent commencement of the Personal Property Securities Register under the Personal Property Securities Act (PPS Act), businesses need to take proactive steps to protect their businesses.
On 27 June 2013, the first major decision in Australia in regard to the Personal Property Securities Act 2009 (Cth) was handed down in the New South Wales Supreme Court. The decision in the case of Maiden Civil v QES  NSWSC 852 is a powerful illustration that possession can trump ownership if you do not register your interest in goods on the Personal Property Securities Register (PPS Register).
It could be argued that not since the introduction of the GST has there been a more urgent need for businesses to review and revise their business practices, procedures and documentation. In January 2012 the Personal Property Securities Act introduced a new Personal Property Securities Regime which, in effect, compels business owners to take proactive steps to formally register their interests in certain assets if they wish to ensure their business and their assets are properly protected.
The Federal Government has released a consultation paper seeking feedback from small business owners on proposed protections from unfair contract terms.
As you would appreciate from our previous alerts regarding the reform of the Privacy Act (Cth) 1988, the two major aspects of the reform involved:
- the introduction of the Australian Privacy Principals; and
- the reworking of the Australian credit reporting system.
The Government introduced a bill into parliament in March to proposing the following amendments to the Personal Properties Security Act 2009 (PPS Act):
- Remove the provision deeming that leases of serialised goods for more than 90 days are a ‘PPS lease’; and2.
- Amend the definition of ‘motor vehicle’.
on 12 March 2014, significant changes to the Privacy Act 1988 took effect. The changes included:
- the introduction of a more comprehensive credit reporting system; and2.
- the introduction of a set of Australian Privacy Principles, which set out the standards, rights and obligations in relation to the collecting, handling, holding, access and correction of personal information.