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What is ‘security interest’ under the PPSA system? What are the advantages and disadvantages of the ‘functional’ approach?

– What is ‘security interest’ under the PPSA system?
-What are the advantages and disadvantages of the ‘functional’ approach?
At least one proposition must be included for me to present to the group (two would be better).
Provide me with a clear presentation to be made:
– Introduction
– Logical sequence of elements, and a
– strong conclusion

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