[extract] Although reform of personal property security law has been long neglected, it is too important to be ignored any longer. A clear consensus has emerged that the reforms incorporated in the draft PPSA Bill would do much to attain the desirable objectives within secured financing in Australia of a cheaper, faster, simpler, easier, and safer scheme of personal property security law on a national uniform basis of best practice. The reforms will also confirm Australia’s position in the global financial network through a regime that is compatible with our trading and financing partners.
Allan, David E.; Quirk, Patrick; and Martin, Nicole
"Final Report - Workshop on Personal Property Security Law Reform,"
Bond Law Review:
1, Article 2.
Available at: http://epublications.bond.edu.au/blr/vol14/iss1/2