PPS Lease Bill 2017
The Personal Property Securities Amendment (PPS Leases) Act 2017 commenced on 20 May 2017.
This Act amends section 13 of the Personal Property Securities Act 2009 to extend the minimum duration of PPS leases from more than one year, to more than two years. This Bill also amends the Act to provide that leases of an indefinite term will not be deemed to be PPS leases unless and until they run for a period of more than two years.
More information on the parliamentary process can be found in this document by the Parliamentary Education Office.
For more information on how this may affect your business see: PPS lease change 2017
On 4 April 2014, the Attorney-General announced a review of the PPS Act as required by section 343 of the PPS Act.
Find out more about the consultation and final report of the Statutory review of the Personal Property Securities Act 2009.