PPSR refer to ‘Personal Property Securities Register’. The Personal Property Securities Act 2009 came into effect on the 30 January 2012 . It is a Federal law has changed the way security interests in personal property and in relation to companies are created. The PPSR replaces a number of former registers including ASIC fixed and floating company charges.
The Act establishes a new online security interest register called the Personal Property Securities Register, administered by the Insolvency and Trustee Service Australia (ITSA). This replaces most other current registers of security interests and establishes a system of priorities between competing interests.
Loans may be secured over individual assets, or classes of assets. Individual assets include motor vehicles, aircraft, boats, business inventory, goods to which retention of title applies, goods on commercial consignment, bailed and leased goods, intellectual property and company shares.
