By Dan Fitts.
Key Points:
Companies that have leasing as a small and irregular part of their overall business still must comply with the PPSA if their interests in leased goods are to be protected.
Ad hoc leasing arrangements might not be a core part of your business, but they could still mean you’re regularly engaged in the business of leasing, and therefore need to register your interest under the Personal Property Securities Act 2009 (Cth) (PPSA), or risk losing title to the goods on insolvency of the lessee. That’s the lesson from a recent decision of the NSW Supreme Court (Forge Group Power Pty Limited (in liquidation)(receivers and managers appointed) v General Electric Intern…
Read the full article at: http://www.claytonutz.com/publications/edition/31_march_2016/20160331/think_youre_not_regularly_engaged_in_the_business_of_leasing_think_again_says_new_ppsa_decision.page
