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FACT SHEET
PERSONAL PROPERTY SECURITIES (NATIONAL
UNIFORM LEGISLATION) IMPLEMENTATION BILL
2010
The Personal Property Securities (National Uniform Legislation)
Implementation Bill supports the Personal Property Securities (Commonwealth
Powers) Bill 2010 which passed through Parliament earlier this year.
The Bill provides the mechanisms necessary to support the transfer of
information from Tasmanian securities registers to the new
Commonwealth Personal Property Securities (PPS) Register.
The Bill will exclude mineral resources licences and leases from the
operation of PPS as there is already an industry specific register of
interests in operation and industry does not wish to change this system.
The Bill will make a number of minor consequential amendments to
legislation which are required in order to update terminology used so
that it is consistent with the PPS Act.