Author : Anthony J. Duggan
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (13 download)
Book Synopsis The Trials and Tribulations of Personal Property Security Law Reform in Australia by : Anthony J. Duggan
Download or read book The Trials and Tribulations of Personal Property Security Law Reform in Australia written by Anthony J. Duggan and published by . This book was released on 2015 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: New Zealand enacted a Personal Property Securities Act in 1999, based substantially on the Saskatchewan Personal Property Security Act. After many years' debate, Australia enacted a Personal Property Securities Act in 2009 and the statute commenced operation on 30 January 2012. Like the New Zealanders, the Australian drafters used the Saskatchewan PPSA as their starting point but, unlike the New Zealanders, they ended up departing in numerous respects from the original text. The problem with reinventing the wheel, as the Australians did, is that it increases the risk of mistakes and this concern has been borne out by subsequent developments in Australia. Australian PPSA, s.343 provided for a mandatory review of the legislation after three years of operation. The review was recently completed; the reviewer's report is 530 pages long and it makes 349 recommendations for reform. Many of these recommendations are aimed at correcting mistakes in the statute and the register which could have been avoided if the Australian law makers had adhered more closely to the Saskatchewan PPSA (or some other tried and tested model). This paper discusses some of the Review's key findings, focusing in particular on registration issues. The paper also discusses some of the more important Australian PPSA cases to date.