News / Update on PPSA unproclaimed provisions /
Update on PPSA unproclaimed provisions
27 August 2015
Further to our previous news piece discussing the Personal Property Securities Amendment (Deregulatory Measures) Bill 2014 (Cth) (the Act) receiving Royal Assent and how the changes will affect small and medium sized hire companies, the Department of the Prime Minister and Cabinet has flagged parts of the Act in its latest "Report on Unproclaimed Legislation"(The Report).
The Report states that industry stakeholders are currently being consulted on an appropriate commencement date with 1 October 2015 being identified to coincide with the beginning of the second quarter of the financial year. The Report also asserts that, "... Provided there are no significant concerns from stakeholders, it is anticipated that Schedule 1 of the Act will commence by proclamation by the end of September 2015."
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David Williams | Partner
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