29/11/2016

The Personal Property Securities Register ("PPSR") was set up to be a single register of encumbrances over property.  It was designed to make it easier for those searching either the encumbrances relating to a particular property or particular owners of that property.

When set up, the PPSR consolidated many public registers, such as the Registers of Encumbered Vehicles (REVS) and the ASIC Register of Company Charges.

In 2012, registrations that had been recorded on over 35 registers were automatically transferred to the PPSR - even if they didn’t include all field information required for a complete registration by today’s format.

Since then, a transitional grace period has existed in accordance with the Personal Property Securities Act 2009 (Cth) or PPSA.  This ends for registrations that were migrated without an end date on 30 January 2017.

What does this mean?
If you have any registrations that transferred across without an end date, your registrations may no longer protect your interests as of 30 January 2017.

What do I need to do?
It is important to check details of your registrations to make sure they’re up-to-date and contain all the required information to be effective.

Need more information?  
Click here https://www.ppsr.gov.au/end-final-transitional-period for more information on the end of the PPSR's transitional grace period.