The PPS Regulations: Exposure Draft and Commentary have been released for public consultation.

The PPS Regulations cover:

• which interests are within the scope of the PPS Act (and those that are out of scope);
• the interaction between the enforcement provisions in the Act and the National Consumer Credit legislation, and
• matters relating to the PPS Register (including access to and suspension of the Register, the information required to effect a registration, and how grantors and secured parties are to be identified in a registration).

The Exposure Draft of the PPS Regulations takes into account amendments proposed by the PPS (Corporations and Other Amendments) Bill 2010.

The due date for submissions is 4 June 2010.

The Attorney-General’s Department has also released an overview of the major milestones in the PPS Reform Program up to the scheduled implementation time of May 2011.