Bruce Whittaker (pictured), who is based in Melbourne, will investigate whether the Act is meeting its objectives of providing greater certainty to lenders and helping business to access finance.
The review is expected to be completed by January 2015, with an interim report on priority issues raised by small businesses due on 31 July 2014.
Whittaker will stay on as a partner at Ashurst while he conducts the review.
Attorney-General George Brandis QC said Whittaker was selected for the review based on his “extensive legal and industry experience”.
Whittaker is the head of Ashurst’s Personal Property Securities (PPS) practice in Australia. He was involved in the development of the PPS legislative package, participating in submissions on successive drafts of the Act, associated legislation and regulations.
Whittaker also appeared before a number of Senate inquiries into the PPS legislation.