Abstract:
In many jurisdictions, including Australia and New Zealand, the law of secured transactions has traditionally been a complex and often uncertain branch of the law that lacks transparency and conceptual coherence. But on 1 May 2002, with the commencement of the Personal Property Securities Act 1999 (NZ) ('NZPPSA'), New Zealand implemented a new regime for regulating the use of personal property as security for the repayment of loans and the performance of other obligations. Australia is now following suit with the coming into force in early 2012 of Australia's version of the NZPPSA, the Personal Property Securities Act 2009 (Cth) ('Australian PPSA').