Are you ready for the PPSR?

About the PPSR

The Personal Property and Securities Register (PPSR), is a single, national online register that will allow lenders and businesses to protect their security interests in personal property by registration.

Secured parties, buyers, and other interested parties involved in personal property security transactions will also be able to use the PPSR to search for security interests in personal property.

The PPSR will provide businesses and individuals with access to a single source of information about security interests in personal property and will mean significant reductions in the cost of searching and registering security interests.

About personal property

Personal property is anything that is capable of being owned (other than land or fixtures). Personal property may be tangible, such as cars, boats, machinery and livestock, or intangible, such as intellectual property and contract rights.

About security interests

A security interest is a legal interest in personal property that is created by any transaction that secures the payment or performance of an obligation. An example of a security interest is a fixed and floating charge over a company or a retention of title agreement.

About secured parties

A secured party can be an individual, a company, or another entity that has interest in a grantor’s collateral.

About collateral

Collateral is the personal property to which a security interest attaches.

When will the PPSR will be available?

The PPSR will be available from 10 October 2011.

About existing registers

The PPSR will replace most existing Commonwealth, State and Territory personal property security registers. Security interests recorded on existing registers will be moved to the PPSR to avoid the need to re-register interests in new system.

Does it cost money to search or register on the PPSR?

Yes, there will be a fee to search or register a security interest on the PPSR. The Government has advised that it will make information about the fees and pricing available nearer to the start date.

How do I register or perform a search on the PPSR?

Peter Atkinson & Company is ready to make the transition to the new PPSR easy for its customers by integrating PPSR registrations and searches into our existing online searching portal.

Where can I get more information?

Visit our online searching providers site for more information.