WebMay 27, 2016 · The Lease constituted a PPS Lease pursuant to section 13 of the PPS Act. GE failed to perfect its security interest by registering an appropriate security interest on … WebA ‘PPS lease’ is the lease or hire of property for a period (including options): for serial numbered goods (for example, motor vehicles), that is longer than 90 days; or. for all other …

Purchase Money Security Interest in the PPSA LegalVision

http://classic.austlii.edu.au/au/legis/cth/consol_act/ppsa2009356/s13.html WebDespite the leasing company attempting to refer to it as a “rental” agreement or incorporate words to that effect, the PPSA provisions captures this arrangement. If the security interest is a PPS lease, per s 13 PPSA, then it will be a purchase money … order 2nd morrisons card

PERSONAL PROPERTY SECURITIES ACT 2009 - SECT 13 Meaning …

WebFeb 2, 2024 · A “PPS lease” is a lease that is regarded as creating a security interest in those goods when the lease arrangement is for an indefinite period or a term or terms of one year or more. It is useful to note here that an agreement for shorter periods will still be a PPS lease where the lessee continues to retain substantially uninterrupted possession of … WebMar 29, 2024 · The court held that the interest of the lessor was a PPS Lease under the PPSA and so it was an unperfected security interest. The lessee appointed voluntary … WebFeb 22, 2016 · For example, a finance lease: see section 12(2)(i) of the PPSA; Second, where the lease is a “PPS Lease”, irrespective of whether the lease is a finance or operating … order 24 rules of high court