[extract] Talking about law reform, before we have a bill, let alone before reform has been enacted, has the appearance of hubris of the rankest sort. Talking about secured transactions law reform looks even worse. After all, it has been talked about for a long time. And there are many who consider a sufficient case has not been made for it. I look at the matter another way. For me, the persistence of the discussion of the case for reform suggests there is ground for a concern that will not go away.
Now we have new draft legislation, for a Personal Property Security Act for Australia . It might be enacted as uniform state law, or as federal law under a suitable new referral of legislative power.