You’ll be excited to learn a version of the Australian PPSA has been adopted by Papua New Guinea and is to commence in January 2016.
If you are trading in PNG or have trade relations with any PNG businesses you will be affected.
As in Australia, ownership no longer counts; it’s all about possession and ensuring you register your interest in your property.
You’ll have to be quick. Whilst we had a two-year transition period PNG businesses will only have 180 days to ‘get on board’.
If you are exposed let us know so we can help you with your registration requirements. Whilst the legislation is similar to Australia the registration process has some differences.