News
Are your assets secure?
Has your organisation had the opportunity to understand the impact of Personal Property Securities Act (PPSA) and implemented practices to register and protect its assets on the Personal Property Securities Register (PPSR). The matter of Maiden Civil v Queensland Excavation Services handed down in June 2013 demonstrates the benefits for organisations to have implemented PPSR business practices, to protect the assets they own.
Questions that an organisation may wish to ask itself:
- What should be registered on the PPSR?
- Is there a security interest over assets we own or wish to purchase?
- How do we use the PPSR?
- What level of registration is required, does registration need to be ‘perfected’?
- Are our work practices sufficient to protect our assets?
Organisations continue to change and the skills, experience and affiliations of Directors are required to change in order for the organisation to continue to be sustainable.
Yet, if the composition of a Board is required to change, this does not necessarily mean that Directors can no longer be an advocate for the organisation.
Directors will contribute and bring a great deal to an organisation during their tenure. Why should the legacy of their organisational knowledge and experience be lost? Could they not continue as ambassadors for the organisation, where the legacy of their knowledge and experience continues to add value to the organisation.
While it is recognised that some directors may choose to leave, to impart their knowledge and skill base to further develop and grow other organisations. Other directors will want to maintain a relationship with the organisation, to continue to support the organisation in the market, community and to key stakeholders, even if not in the capacity as a director.
