The Personal Property Securities Amendment (Deregulatory Measures) Bill 2014 was introduced into the House of Representatives on 19 March 2014 with the object of removing leases of serial numbered goods of more than 90 days but for less than 12 months from the definition of PPSA leases. Background.

The Bill has not progressed further. The changes set out in the Bill will only apply to leases entered into after commencement of the amendment.

A Statutory review of the Personal Property Securities Act 2009 is currently being undertaken.

An interim report on priority issues raised by small business in the review was due to be prepared by 31 July 2014. A final report on the review will be prepared by 30 January 2015.

A summary of the key issues raised in first round submissions on issues particular to small business has been released.

The small business submissions highlighted three major issues: the level of awareness of the PPS Act amongst the small business community, a perceptions of the complexity of the PPS Act, and the functionality of the online register.

You can watch our video on the PPSA here.