LAWS6956 - Personal Property Securities

Objectives

  • An understanding of the rationale and principles which informed the drafting of the Personal Property Securities Act 2009 (Cth) including the functional approach to its definition of security interest;
  • An analysis of the manner in which a security interest under the Act may arise and be preserved and enforced;
  • An appreciation of the breadth of the Act’s definition of security interest by an examination of the applicability of the Act not only to a traditional forms of security interest such as a mortgage or charge but also to other common commercial arrangements not traditionally regarded as giving rise to a security interest, such as certain types of leases and trust arrangements.

Content

The unit introduces the student to the Personal Property Securities Act 2009 (Cth) and to the principles which have influenced its drafting. An examination is made of the pre-requisites under the Act for the creation of an enforceable security interest and the concepts of ‘attachment’ and ‘perfection’ including perfection by registration on the Personal Property Securities Register. The rules in the Act regulating priorities amongst security holders will also be considered, together with their impact on lending practices. Enforcement of a security interest regulated by the Act will be addressed in the context of general insolvency law. Although the Australian legislation is not identical to its offshore counterparts, reference will be made where appropriate to New Zealand and Canadian materials in order to illustrate issues which may arise from the operation of the Act in this country.

Session

Semester Intensive
1, 2 & 8, 9 August 2014

The timetable is subject to frequent changes. Please refer to the latest version of the Postgraduate Timetable.

Assessment

  • 1 x 3000 Word Assignment (30%)
  • 1 x Take-Home Exam (70%)

Continuing Professional Development (CPD)

You can credit this unit towards Continuing Professional Development (CPD). Units of study that are part of Sydney Law School’s Postgraduate Program meet the necessary Mandatory Continuing Legal Education (MCLE) of the Law Society of New South Wales and the Continuing Professional Development (CPD) requirements of the New South Wales Bar Association. You may complete this unit of study by enrolling on a non-degree basis or on an audit basis only with no assessment via Single Unit Study.

Courses this unit is available in

Master of Laws | Graduate Diploma in Law | Master of Global Law | Master of Business Law | Graduate Diploma in Commercial Law | Graduate Diploma in Corporate, Securities and Finance Law