PPS – Personal Property Security Australia

The way Australian businesses and individuals register their personal property security (PPS) interests has changed significantly due to the recent introduction of the national PPS register. The new system represents massive reform for the Australian financial sector.

Prior to the overhaul, personal property securities were governed by more than 70 state- and territory-specific laws. This made registering an interest both unnecessarily complicated and, at times, very costly.

The new register brings Commonwealth, State and Territory interests in line under one national web-based system. The PPS system was rolled out in Australia following successful trials in the United States, Canada and New Zealand. It’s structured to allow businesses and individuals the best possible opportunity to raise capital based on their personal property.

The 2009 Personal Property Securities Act (PPSA) specifies which types of personal property can be listed as a security interest. Qualifying items include:

  • Boats
  • Cars
  • Art
  • Livestock
  • Inventory
  • Goods
  • Licences
  • Accounts
  • Investments

Financial properties and patents are exempt and thus can’t be listed. Land, plus any buildings or fixtures situated on that land, also can’t be registered.

Once an asset or interest has been listed on the PPSR, interested buyers, banks and other secured parties can conduct a search to track it. The PPS register is updated in real time, accessible 24 hours a day, seven days a week, and based solely on the web.

Sounds a bit complicated? That’s where PPSR.com.au comes in. Our PPS solutions make navigating the new register easy. Need to find an elusive search certificate or registration history? We’ve got you covered. PPSR.com.au subscribers can search using registration number, serial number, ordinal search or event date.

Get started with PPS today; for more information contact PPSR.com.au.


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