Corrs Chambers Westgarth has authored a new subchapter on the Implications of the Personal Property Securities Act for the infrastructure and construction industries in the upcoming update of the Australian Personal Property Securities Law Reporter, published by CCH Australia.
Written by partners Andrew Chew and Andrew Galvin with special counsel Jodie Burger, the publication will be released in early July and covers the impact of the personal property securities law on the infrastructure and construction industries in Australia.
Below is an excerpt from the subchapter:
“Australia has an extensive infrastructure-dependent economy which requires the delivery of public and private infrastructure covering a range of industries from property development, transport and health facilities, to the energy and resources sectors. The delivery of projects involves a variety of activities ranging from manufacturing and supplying materials and equipment, to designing and constructing projects, as well as the operation and maintenance of the infrastructure that is built. Entities involved in the day to day operation of infrastructure and construction are affected by the Personal Property Securities Act 2009 (Cth) (PPSA) with respect to all property which is not land nor a fixture to land. It is therefore important that such entities have an understanding of how the PPSA affects their operations and what rights and responsibilities are associated with complying with the new regime.
This subchapter examines some of the usual contractual arrangements used in the infrastructure and construction industries and provides some guidance as to how the PPSA may affect such arrangements. The nature of the assets, ownership and financing arrangements, and the contractual rights governing those assets are also important factors to take into account when considering the PPSA issues.”
The full subchapter is available online and will also be available in print of CCH’s Australian Personal Property Securities Law Reporter. Please click here to view the subchapter online. Please click here to sign up for a free trial to the Australian Personal Property Securities Law Reporter.
The content of this publication is for reference purposes only. It is current at the date of publication. This content does not constitute legal advice and should not be relied upon as such. Legal advice about your specific circumstances should always be obtained before taking any action based on this publication.