The Attorney-General's Department is seeking comments on the exposure draft of the Personal Property Securities Bill (Corporations and other Amendments Bill) 2009.
The exposure draft Bill proposes amendments to the Corporations Act 2001 consequential on passage of the Personal Property Securities Act to:
- close the Register of Charges under Chapter 2K
- amend the terminology of the Corporations Act in line with the PPS functional approach
- where appropriate, to include PPSA retention of title property within the definition of property in the Corporations Act (in line with the PPSA functional approach)
- maintain existing rights (that is, to ensure the amendments do not interfere with certain existing rights under the Corporations Act), and
- provide appropriate transitional and application arrangements.
Submissions are sought by no later than 22 January 2010.
