Compliance Framework
Compliance Driver
Personal Property Securities Act 2009 (Cth)
Classification
Level 4
Local area requirement, managed locally .
Associated Legislation
None
Associated Standards
None
Associated Codes
None
Associated Information
None
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Administrative Information
Administrative Body
Administrative Name
Administrative Address
Administrative Phone
Administrative Email
Administrative Website
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General Introduction
VC Compliance Delegate
Meredith Parry, Chief Operating Officer
Compliance Coordinator
Katrina Warden, Director Legal Services
Business Units Impacted
Overview
The PPSA establishes a national framework for securing obligations using personal property. It is a highly procedural Act that affects a wide range of the University's activities. The University can be both a grantor (when it gives a security interest over its assets, for example, under a finance lease for equipment) and a secured party (when it takes a security interest over another party's assets, for example, taking security over intellectual property it licenses out, or over debts owed to it).
For example:
s151(1) Registration - belief about security interest - Imprisonment for 1 year for an individual. For a corporation, a court may impose a significant fine under the Crimes Act 1914 (Cth).
s151(2) Registration - belief about security interest - Civil Penalty: 50 penalty units for an individual. For a corporation, the maximum penalty is 250 penalty units.
s271 A person who suffers loss or damage because the University (as a secured party) fails to discharge an obligation under the Act may recover the amount of the loss or damage from the University.
Compliance Overview