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Personal Property Securities Law (LAWS90101)
Graduate courseworkPoints: 12.5Not available in 2018
Overview
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This subject involves a detailed study of the Personal Property Securities Act 2009 (Cth) (PPSA). The PPSA is one of the most significant commercial law reforms to have been enacted in Australia. Based partly on the Canadian provincial PPSAs and Article 9 of the United States Uniform Commercial Code, the PPSA deals with the taking of security interests in personal property (goods, accounts receivable, intellectual property and the like) and it governs every aspect of the transaction including the formalities surrounding entry into a security agreement, registration of security interests, priorities between competing security interests in the same collateral and enforcement of security interests. The PPSA replaces the registration of charges provisions in the Corporations Act 2001 (Cth), the state and territory bills of sale statutes and the state and territory statutes governing registration of security interests in motor vehicles. It also substantially reforms the law relating to floating charges and the law relating to reservation of title agreements. The PPSA was subject to a major review which was completed in early 2015 and the government is currently considering amendments to implement the review’s recommendations. The subject will include a systematic study of the review’s main recommendations. It will also include study of the Australian PPSA cases decided to date, along with leading Canadian and New Zealand PPSA cases, to the extent that they are relevant in the Australian context.
Principal topics include:
- Aims and objectives of the PPSA
- Scope of the PPSA
- Validity, enforceability and attachment of security interests
- Perfection of security interests and the consequences of non-perfection
- Registration of security interests
- Competing claims to collateral: the basic PPSA priority rules, purchase-money security interests and buyers in the ordinary course of business
- The secured party’s claim to collateral proceeds
- Secured creditors’ remedies.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of the Personal Property Securities Act 2009 (Cth) (PPSA) and also of case law developments and proposals for amendments in the PPSA Statutory Review and elsewhere
- Be able to critically examine, analyse, interpret and assess the effectiveness of the PPSA
- Be an engaged participant in debate regarding emerging and contemporary issues in the field, such as the application of the statute to transactions that are functionally equivalent to security interests, the treatment of leases and other title retention arrangements, the scope and operation of the PPS register, the interaction between the PPSA and the insolvency laws and consumer protection issues arising in the PPSA context
- Have a sophisticated appreciation of the factors and processes driving parliamentary revision of the PPSA
- Have an advanced understanding of situations which might give rise to litigation under the statute
- Have the cognitive and technical skills to generate critical and creative ideas relating to secured lending theory and practice and to critically evaluate existing legal theories, principles and concepts with creativity and autonomy
- Have the cognitive and technical skills to independently examine, research and analyse existing and emerging legal issues relating to secured lending law
- Have the communication skills to clearly articulate and convey complex information regarding the PPSA to relevant specialist and non-specialist audiences
- Be able to demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of secured lending law.
Last updated: 3 November 2022
Eligibility and requirements
Prerequisites
Melbourne Law Masters Students: None
JD Students: Successful completion of all the below subjects:
Code | Name | Teaching period | Credit Points |
---|---|---|---|
LAWS50030 | Property | Semester 1 (On Campus - Parkville) |
12.5 |
LAWS50029 | Contracts | Semester 2 (On Campus - Parkville) |
12.5 |
Corequisites
None
Non-allowed subjects
Students who have completed LAWS70375 Secured Transactions are not permitted to take LAWS90101 Personal Property Securities Law.
Recommended background knowledge
Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 3 November 2022
Assessment
Additional details
- Class participation (10%)
- Take-home examination (5,000 - 6,000 words) (50%)
- 4,000 word research paper (40%) on a topic approved by the subject coordinator
A minimum of 75% attendance is a hurdle requirement.
Last updated: 3 November 2022
Quotas apply to this subject
Dates & times
Not available in 2018
Time commitment details
136-150 hours The pre-teaching period commences four weeks before the subject commencement date. From this time, students are expected to access and review the Reading Guide that will be available from the LMS subject page and the subject materials provided by the subject coordinator, which will be available from Melbourne Law School. Refer to the Reading Guide for confirmation of which resources need to be read and what other preparation is required before the teaching period commences.
Additional delivery details
This subject has a quota of 30 students. Please refer to the Melbourne Law Masters website for further information about the management of subject quotas and waitlists.
Last updated: 3 November 2022
Further information
- Texts
Prescribed texts
- Personal Property Securities Act 2009 (Cth)
- Personal Property Securities Regulations 2010 (Cth)
- Anthony Duggan and David Brown, Australian Personal Property Securities Law (2nd ed, Lexis Nexis Australia, 2015)
Selected printed materials will be made available by the Melbourne Law School.
- Related Handbook entries
This subject contributes to the following:
Type Name Course Master of Banking and Finance Law Course Graduate Diploma in Banking and Finance Law Course Graduate Diploma in Construction Law Course Graduate Diploma in Legal Studies Course Master of Construction Law Course Juris Doctor Course Master of Commercial Law Course Master of Laws - Links to additional information
law.unimelb.edu.au
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Additional information for this subject
If required, please contact law-admissions@unimelb.edu.au for subject coordinator approval.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 3 November 2022