Australian Personal Property Security: Out with the old and in with the new. Some Transport and Trade Ramifications.

If you are a supplier of goods under a contract containing a retention of title clause have you registered it?  You must be joking I hear you say! Not any more in Australia.

The existing law

Australian law regarding ownership and security in personal property is well established based on long accepted common law principles and well established legislation at both Commonwealth and State level. The combined effect of these laws applies not only to ownership of and security over many forms of personal property, but also to priorities as between holders of security interests in personal property and the enforcement of those interests. 

Generally speaking there are only limited requirements under Australian law in relation to the registration of ownership or security interests in personal property, for instance in relation to ships under the Shipping Registration Act 1981 (Commonwealth) or in relation to company charges (floating or otherwise) pursuant to the Corporations Act 2001 and its predecessors (Commonwealth). Unlike the position with registration of title to and security interests over real property title to personal property is not dependent on registration and thus there is no general obligation or ability to register such interests over personal property.

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For more information please contact Partner Derek Luxford on +61 2 9293 5474 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it