About

In 2002 The Personal Property Securities Register replaced four separate registries: the motor vehicle securities register, the chattels register at the High Court, and the registers of company charges and industrial and provident society charges at the Companies Office. Security interests over almost all types of personal property, other than land and ships, can now be registered in one place.

Understanding the Personal Property Securities Act for Non Lawyers will give managers a clear understanding of how the PPSA works in practise, in clear and easy to understand language.

Learning Objectives:
•    Gain a clear understanding of the PPSA
•    Understand why securities should be registered?
•    Learn what happens if you don’t register a security
•    Understand how to search the register 
•    Demystify the PPSA in plain English

Who Should Attend?
•    Credit Managers, Controllers & Supervisors
•    Accounts Receivable Officers, Supervisors, Controllers & Clerks
•    Office Managers
•    Administration Personnel involved in the credit function
•    Anyone with responsibility in the area of accounts receivable and credit collection


Outline

Introduction to the PPSA
•  Understanding the background and intention of the legislation
•  Key terminology under the act:  attachment, perfection, security interest, possession, knowledge, accounts receivable, chattel  paper, commercial consignment, consumer goods, debtor, intangibles, investment security, commingled goods, accessions, perfected money security interests
•  What does the legislation cover?

Creation and enforceability – why should a security be registered?
•  Attachment and perfection of security interests on different types of property
•  Goods free of security interests including motor vehicles
•  Enforcement of Security interests
•  Communication Provisions
•  Insolvency under the PPSA

Determination of Priority – what happens when it goes wrong?
•  General Securities v Specific Securities
•  Registered Securities v Unregistered Securities
•  Timing of Registration of Securities
•  Purchase Money Security Interests
•  Preferential creditors

Personal Property Securities Registrar
•  Register requirements including: Range documentation, registration, amendment, discharge, monitoring & expiry.
•  Register search procedures – How to search

Questions and Answers


Facilitator

Emma Falconer

Emma is a partner at Stace Hammond, a commercial and commercial litigation firm with offices in Auckland, Hamilton and Tauranga. She is involved in providing general commercial advice to a wide range of clients. She has provided advice to a number of financiers on all aspects of lending, from structuring the loans and securities, through management of the loans and security realisation in the event of a default. Emma has been involved in property transactions from residential sales to large commercial transactions, including complex mortgagee sales.  She has worked closely with businesses to develop terms of trade and to assist with recovery of debts and assets.  She also works with a number of liquidators and receivers.



In-house Training