Asset Protection and PPSA

What is Asset Protection and PPSA?

Summary

The PPSA has introduced a single national regime and register for the recording of security over assets. This nationwide system regulates the creation, priority and enforcement of security interests held over very many various types of assets, such items being referred to under the PPSA as personal property.

Since the PPSA’s introduction any entity that holds a security interest in an asset must register or risk the loss of that asset on the insolvency of the party in possession of your personal property.

If you own a business, it is important that you understand how the PPSA works and ensure that you allocate resources to establish a system to manage the registration of your security interests.

Beck Legal can assist by understanding your business, putting in place the appropriate structures, developing the necessary documentation and by establishing a procedure for the registration of security interests of which we can facilitate security interest registrations on your behalf.

Why Choose Us?

Beck Legal has extensive experience implementing systems and procedures for PPSA compliance across many industries. We can provide as little or as much assistance as required to help you protect your business from financial loss.

How We Can Help

PPSA - The Personal Property Security Act

Summary

When entering into any arrangement in which you either offer finance or credit terms or part with possession of assets in which payments are still due or those assets are to be retuned, then we will help you by:

  • Explaining the PPSA in plain English.
  • Develop tailored documentation to protect your interests.
  • Ascertain the details of the other party or parties who you are taking security over.
  • Establish the systems for issuing documentation and verifying supplied information.
  • Correctly register a security interest within the specified time frames.
  • Work with you to keep the register updated if additional assets are financed or supplied.

It is also important to ensure that the register is searched when purchasing personal property from someone who would not ordinarily in the course of their business sell those assets to a customer so as to ensure that the personal assets are not subject to a registered security interest.

 

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Frequently Asked Questions

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Meet our Asset Protection and PPSA Team

  • Daniel's expertise allows him to develop strategies for you to pass control of business and family entities on death or during your lifetime, in a tax effective and asset protective manner.
    Daniel Cole
  • With a wealth of experience in administration and customer service, Sarah is the first welcoming point of contact for our clients.
    Sarah Trembath
  • Kendra works closely with client, ensuring that their matters are resolved in a timely manner, whilst continuing to develop her knowledge in all areas of Commercial and Succession Planning.
    Kendra Harrison
  • Brianna works closely with the Commercial team to ensure that matters run smoothly and expectations are met within the promised time frame.
    Brianna Hayes
  • Priscilla Imms-Taylor
    Priscilla aims to help you achieve your goals in a timely and efficient manner, as well as continually expanding her knowledge in the business of law.
    Priscilla Imms-Taylor
  • Sarah prides herself on providing clear and concise advice to put your mind at ease around any legal issues your business is dealing with.
    Sarah Gee
  • Alix concentrates on developing and implementing Estate Planning solutions designed to achieve your objectives and tailored to the circumstances of your beneficiaries.
    Alix Steed

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