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Do You Have A PPSR Registration? It May Be Time To Renew It!

Every day you may be putting your business at risk when buying, selling, leasing or hiring out goods, or selling valuable goods on consignment.

The Personal Property Securities Register (PPSR) is a national online register that can provide information to help protect consumers when they are buying personal property such as cars, boats or artworks (not including land or buildings).


If you check the PPSR before you buy, you can find out if the personal property you are buying has a security interest attached to it. This is important because if you buy property subject to a security interest, it is possible that the person or entity with the security interest will repossess it.


The PPSR & your business

  • Do the goods you are buying have money owing on them?

  • Will you get your goods or money back if your customer goes broke?

  • You can’t avoid these common transactions, but you can protect yourself.


How can I protect my business?


There is a single, national online noticeboard (the register) that shows you whether someone is claiming an interest against goods or assets.


You can also make a registration, so others know when you have retained an interest in goods you are supplying. This means that if your customer doesn’t pay,or goes broke, you are in the best position to get your goods, or their value, back.


Examples of personal property


The register is now the national register of security interests in personal property.

Personal property is a legal term for any property that is not land, buildings or fixtures. Examples are:

  • motor vehicles, boats or aircraft

  • crops, cattle and other livestock

  • stock in trade, artworks and equipment

  • other goods, new or second-hand, whether owned by businesses or individuals

  • intangible property, such as patents, copyright, commercial (not government-issued) licences, debts and bank accounts

Have You Had Your Account For 7 Years?


If you are already registered with PPSR from back in January 2012, and signed up for the seven years or less category, be prepared as your registration has now lapsed or will lapse in the not too distant future. To be sure you can find out by logging into your PPSR account. If it has lapsed, and you still have a financial interest in the property, you will need to re-register.


Do not take too long to check your registration of your current security, as this could give another person or entity the opportunity to register their first name.


If you were one of the many who registered after January 2012, we highly recommend you keep a reminder to extend the registration before it expires.This will prevent the registration from lapsing, and keep your property claim protected.


How To Register

The PPSR is a noticeboard only – it flags that a secured party is claiming a security interest against the personal property of a grantor. It is not a registration of actual documents. Neither is it a register of title.


You can place a notice on the PPSR to show that you have enforcement rights over personal property. You should only register a security interest on the PPSR if you have a security agreement evidenced in writing. A searcher may contact the secured party to request more information or view the underlying security agreement.


Your registration must also be:

  • accurate (every detail and digit is exact)

  • current (registration has not lapsed)

  • correctly categorised


Any error or omission is likely to result in an ineffective registration, which is the equivalent of not registering at all.


The required information during registration differs depending on the entity type (individual, company, trust, etc.), and the registration type (motor vehicle, equipment, cash bond, and so on).


Keep in mind that serial numbered goods must be registered with their correct serial number and vehicles with their exact VIN number.


By Shane Ellis

SMSF Law Equity Protect

27 May 2019

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