Chinese investment in Australia's mining sector-frequently asked questions: Personal Property Securities Legislation

摘要

This Is the fourth in a series of seven articles prepared by HFW (Holman Fenwick Willan) which aim to answer frequently asked questions concerning Chinese investment in Australia's mining sector. In this article, we look at the impact of the Personal Property Securities Act 2009 (Cth) (PPSA) on the mining sector. THE PPSA which came into effect on January 30, 2012, establishes a single national iaw governing the creation, priority and enforcement of security interests over personal property. The PPSA represents a fundamental shift in traditional understanding of the law governing personal property in Australia and interests not previously treated as security interests are now subject to the new regime, The introduction of the PPSA has had far-reaching consequences for all entities and industries conducting business in Australia, including stakeholders in the resources industry.