Don’t wait ‘til it’s too late: review your PPSR registrations to protect your property

18-Jan-2019 11:00 AM


On 30 January 2019, the Personal Property Securities Register (PPSR) will be seven years old.

“This is an important date,” said Mr Gavin McCosker, Registrar of Personal Property Securities at the Australian Financial Security Authority (AFSA).

“Seven-year registrations will soon start to expire. Once a registration lapses, it cannot be extended. Only current registrations can be amended or renewed.

I encourage anyone who hasn’t yet reviewed their registrations, to do so before 30 January 2019,” Mr McCosker said.

Reviewing your registrations is quick and easy to do. Simply log into the PPSR and request a free ‘registrations due to expire’ report that will list all the registrations for your secured party group, that are due to expire in a specific date range. (Go to https://www.ppsr.gov.au/registrations-due-expire-report for more details.)

Review all the details in the registration; make sure you’ve got the right ACN or ABN, company name and current address for your client. Check that your details are correct, including the way you describe your goods. If you need to extend your registration, choose a new expiry date.

“We’ve been pleased that many people have already acted to review and update existing registrations. In fact, we’ve had a 200 per cent increase in people accessing the free ‘registrations due to expire’ report, which is great. But we don’t want others to be caught out,” said Mr McCosker.

Act now, to ensure your registrations continue to provide ongoing protection. And make it a habit to regularly review them.

If you’re acting on behalf of a third party—be proactive and help them review their registrations.


31 January is coming faster than you think. Review your registrations today.

 

Topic: General News

Media contact

About us