Personal Property Security Register (PPSR)
What is PPSR?
PPSR (Personal Property Security Register) is an initiative of the Federal Government to simplify how an interest in consumer and business security is registered. The changes being made under PPSR will have no impact on the way real estate or water allocations are treated, however it will affect the registration of the following security types:
- Other goods
- Stocks and Crops
- Company Charges
- Chattel Papers
- Intellectual Property
PPSR was launched on 30th January 2012
How does PPSR impact my Business?
If your Business supplies goods to customers on consignment or on finance terms, such as credit or lease
arrangements you may need to register your interest in the goods on PPSR. Examples of this include:
What can I do?
- Seek independent advice on the impacts these changes may have on your business processes, documentation, terminology and any fees charged.
- If you already have security interests registered on any of the old registers, you may need to claim them
Where can I get further information?
- Your Solicitor or Accountant may provide advice specific to your business
- The official Government site: http://www.ppsr.gov.au/ or Contact Centre:
– Email: email@example.com
– Phone: 1300 007 777 (1300 00PPSR)