New Zealand Personal Property Securities Act

The New Zealand Personal Property Securities Act (PPSA) is a law that helps organize and protect interests in personal property—things like equipment, inventory, or vehicles—used in business. It creates a registry where lenders and creditors can register their claims or security interests in these assets. This system helps clarify who has priority if a borrower defaults or becomes insolvent, reducing uncertainty and risks. Essentially, the PPSA improves transparency and efficiency in business transactions involving personal property, ensuring all parties understand their rights and can access or claim assets fairly.