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Are you PPSR prepared?

Key Points The Personal Property Securities Act 2017(“Act”), which was passed in Fiji on 15 September 2017, will come into force in Fiji on 31 May 2019, with the Personal Property Securities Register (“Registry”) going “live” at the same time. The Act indicates significant reform for Fiji’s financial system by allowing a much wider range of moveable property to be pledged as collateral than was previously accepted by lenders, and creating a standardised set of rules governing conflicting security interests in movable property. In this way, it will facilitate far greater access to credit for individuals and businesses alike, which will, in turn, encourage increased private sector growth in Fi

Alert: PPS Commencement Date

The Personal Property Securities Act 2017 (Act) will be commencing on 31 May 2019, representing a major reform for Fiji’s financial system. The Act will overhaul secured lending in Fiji and will also have far-reaching consequences across a broad range of commercial transactions and arrangements. If you are involved in lending, equipment leasing, the supply of goods, hire-purchase arrangements, or the commercial consignment of goods (to name a few) it is likely that the Act will affect your operations. What is the significance of the Act? The Act reforms the law of secured lending in Fiji, creating a standardised set of rules to determine the priority of competing security interests in moveab

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