Personal Property Securities Act (PPSA)

  • PSA stands for Personal Property Securities Act 2009.
  • It is a federal law that governs the creation, perfection, and enforcement of security interests in personal property in Australia.
  • In the context of securitisation, the PPSA is used to create security interests in the underlying assets that are being securitised.
  • The security interests created under the PPSA are used to protect the interests of the investors in the securitisation.

Here are some of the applications of PPSA in securitisation:

  • To create security interests: The PPSA can be used to create security interests in a wide variety of personal property, including receivables, inventory, and equipment.
  • To perfect security interests: The PPSA provides a clear and efficient process for perfecting security interests.
  • To enforce security interests: The PPSA provides a clear and efficient process for enforcing security interests.