Title transfer collateral arrangements under the Personal Property Securities Act 2009 (Cth): Paper III exclusions and consequences

Abstract

This paper analyses the effectiveness of the exclusions in the Personal Property Securities Act 2009, if repos and securities lending arrangements constitute security interests for the purposes of the Act, and concludes that the exclusions in the legislation may not be sufficiently comprehensive. The paper then explores the potential adverse market consequences of the Personal Property Securities Act applying to at least some aspects of these arrangements. The paper recognises that these conclusions may not accord with market expectations and that the Act may need amendment to address these concerns.