bailment

A bailment for which the bailee provides value may, in certain circumstances, give rise to a PPS lease. There is no definition of bailment in the PPS Act. Generally a bailment occurs when a bailee voluntarily receives possession but not ownership of goods from a bailor who retains the right to receive the goods back when the bailment comes to an end. For more information refer to the Leases and Bailment under the Personal Property Securities Act 2009 fact sheet.