Recent case confirms the paramount importance of the PPSA registration to protect personal property.
The Personal Property Securities Act 2009 (“the PPSA”) came into effect on 30 January 2012. As its name suggests, the PPSA governs the way in which securities over personal property are construed in the eyes of the law. The key change introduced by the PPSA is that it essentially removes the concept of ownership in private property and instead makes the registration on the PPS Register the main factor in deciding who is entitled to personal property in the event of competing interests.