Indigenous Art and the new Personal Property Securities Act

Thursday, 12 April 2012

A new piece of legislation called the Personal Property Securities (PPS) Act requires artists and/or art centres to register consigned art work with the Personal Property Securities Register for protection in the case that a gallery or dealer becomes insolvent. Without registration of the artworks, if a gallery or dealer enters into liquidations, consigned art work held by the gallery essentially becomes the property of the gallery and may be sold as such.

Under the new law, art centres will need to register each dealer and gallery that consigned art work is held with. Further information on how the new law affects gallery art sales can be found at the  Australian Business Arts Foundation, and Aboriginal art centre specific information relating to the PPS Act is summarised in the Copyright Agency Limited's PPS Act Fact Sheet.

 

 

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