PPSA (New Zealand)

The Personal Property Securities Act (PPSA) in New Zealand is a law that governs how security interests—rights over personal property to secure debt—are created, registered, and prioritized. It applies to most personal assets like inventory, equipment, and intangible assets. The PPSA provides a transparent register where creditors can record their security interests, helping establish priority in case of debtor default or insolvency. This system aims to improve certainty and efficiency in commercial transactions, making it clearer for lenders, borrowers, and other parties to understand their rights and obligations regarding personal property used as collateral.