The 7 year PPSA itch

You need to read this! Alert regarding changes to Personal Property Security registrations

The 7 year anniversary of transitional and original Personal Property Security registrations is coming up soon.  That means that many ‘security interest’ registrations will automatically expire on 30 January 2019 if they are not rectified or renewed.

Once a registration has expired, it cannot be extended or renewed. You will lose:

  • Your registered security;
  • Your enforcement rights under the Personal Property Securities Act; and
  • Any priority the registration gave you over other secured parties.

Act now before it is too late.  We guarantee you won’t remember to deal with this when you come back after the nice, relaxing holiday season.

What you need to do

Just remember the Three Rs:

Review your registrations – check whether you have any registrations approaching their expiry date.

Rectify any incorrect details in your registrations – now is a good time to make sure any transitional registrations that were migrated across from other registers (such as the ASIC register of charges) are correct.

Renew any expiring registrations that you still need – timely renewal will ensure that you maintain the priority of your registration.

We can help!

If you need help making sure you are protected, call us on 1300 654 590 and let us do the hard work for you.

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  • We'll listen carefully to understand what you want to achieve. Then we'll thoroughly explain our advice and step you through the documents. You can be sure you'll know the full consequences.
  • Our lawyers work as a team, so someone will always be available to answer your questions, or point you in the right direction. You will also benefit from a range of perspectives and experience.
  • One of our key goals is to pass on as much knowledge as we can, so you can make your own informed decisions. We want to make you truly independent.
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  • For advice and documents, we provide a fixed or capped quote so you don’t take price risk. If you're in a dispute, we'll map out the process and costs so you know what to expect.
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We measure our success on how efficiently we have facilitated your objectives, enhanced your relationships, and reduced the level of stress for all involved.

If we sound like people you can work with, call us now on 1300 654 590 and speak directly with a great lawyer.

Call 1300 654 590 and speak with a lawyer

You’ll be put straight through to a great lawyer who will guide you to the right solution.

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