Author(s): Gail Pearson; Simon Fisher; Elisabeth Peden; Greg Tolhust

Law | CLEARANCE

Commercial Law: Commentary and Materials, 3rd Edition is an extensive compilation of extracted primary and secondary materials divided into the broad categories of personal property; commercial contracts; and commercial conduct. After years of negotiations between States and the lending institutions, the Commonwealth Government has instituted an overall regime for credit protection with the National Consumer Credit Protection Act 2009 (Cth) (NCCPA). The NCCPA establishes one uniform regime for consumer credit regulation in Australia. In December 2009, the Commonwealth also passed the Personal Property Securities Act 2009 (Cth) (PPSA). Instead of the amalgam of state laws, common law and equity that was previously in place, the PPSA is a single Commonwealth Act that provides rules for the creation, extinguishment and enforcement of security interests in personal property and for determining priority among competing security interests. This new edition has been comprehensively revised to take into consideration the significant impacts made by these legislative amendments. It also includes discussion of further legislative changes to come as a result of the national consumer law agenda, notably in "unfair terms" in contracts and possible modifications to statutory implied terms. Also covered are the potential impact of the PPSA on reservation of title and security interests, and amendments to the Corporations Act upon commencement of the PPSA on 15 December 2009.