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Updates on Personal Property Securities Register

As advised in our October newsletter, the new Personal Property Securities (PPS) regime will substantially change the registration of property security interests.

Work has commenced to prepare for the launch of the new PPS Register and to migrate data from numerous existing registers into the one PPS Register. The new regime is expected to commence on 30 January 2012.

Many businesses are not aware that this legislation will radically change the notion of legal title to assets. If you don’t understand how the new legislation will affect you, your assets may be at risk! Please contact your Ruddicks adviser to discuss how PPSR may affect your business and what you need to do to ensure your assets are secure.

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