The Government has announced a review into the Personal Property Securities Act 2009 (the Act). The review will consider the operation and effects of the Act.
The review will assess whether the Act is meeting its objective of providing greater certainty to lenders and helping business to access finance.
An interim report will be prepared by 31 July 2014 with recommendations on priority actions for the Government to consider focussing on issues raised in relation to small businesses.
The final report is due on 30 January 2015 and is expected to make recommendations on how to improve the Act, including simplification where appropriate.