Due to the Personal Property Securities Act 2009 (Cth) (PPSA) and insolvency law, it is important that a subcontractor or supplier registers its likely security interest in money in a project bank account on the Personal Property Securities Register (PPSR), in order to maintain its protection in the event of head contractor insolvency.
The impact of the Personal Property Securities Act on subcontractors and suppliers
Fact sheet
Registering a security interest in a project bank account (PBA) on the Personal Property Securities Register (PPSR) may protect you in the event of head contractor insolvency.
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